What do colleges do with your extra scholarship money?
I have probably over $10,000 of extra scholarship money from outside things. If I don’t spend them at the end of the year (say they are one time Scholarships) does the college give it back to me in a check? What happens to it?
the college reimburses the extra money back to you in a check (or our school has a direct deposit program set up with our banks) Whoooo-hoooo! that’s such a great feeling to get so much back! Congratulations! I would save most of it for future uses such as school, apartments, or to get a head start in repaying back Student Loans if you have any.
Good luck in school! 
July 31st, 2009 at 3:43 pm
Usually you will receive a check for whatever is no used in order to help with living expenses. If the amount of your scholarships exceeds the cost of attendance, then you will not get all of the money remaining. However, if cost of attendance for your school is 40000, and you have 35000 in scholarships, loans, grants, etc, then the amount that covers your tuition and books will be deducted, and the rest sent to you. The cost of attendance takes into account your living expenses, gas, utilities, etc for a year. Hope this helps!
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