Question about Scholarships?

Question

Lets say you did real good and won 80,000 worth of scholarships. And Tuition is only 60,000 for the 4 years. The remaining 20,000 would be yours for personal use right?....I wasnt sure because some ppl said yeah and no....so please help....thanks

Answer 1

sry, but that is collage money only Ima.. but dont worry by the time we grad. were gonna need the xtra 20,000.lol

Answer 2

It would depend on the scholarship.  

Every agency has different requirements.  Most scholarships are sent directly to the school and are very specific in what the school does with the money.  Some scholarships are "tuition waivers" which means they have no cash value, but will pay your tuition only.  Others are "gap scholarships" which means they only kick in after federal aid and grants are applied and make up the difference only.  They also have no cash value.  

Other scholarships (usually by private small agencies) are given directly to you.

Answer 3

Depending on the type of scholarship. Usually if they are scholaships from alternative sources outside of your school, they will be counted before adding in federal financial aid. If the financial aid office sees that you do not need the federal aid, they will most likely reduce your amount awarded because your financial need won't be as much. If you have a lot of federal aid and not as many outside scholarships, you will get the remainder of the federal aid for personal use, but don't forget you still need to buy books which is a huge bill.

Answer 4

You receive the scholarship to the college you are going to and that's it. You can't add up multiple scholarships from other places. For example you get a scholarship to LSU and you get one for MSU. You choose to attend LSU so you get to keep the LSU sclorship ,but not the MSU one.