What will happen to scholarship money that is left over from college tuition?

Question

I am getting ready to enter college and I have a state-funded scholarship that pays for my tuition at a state college (Louisiana's TOPS Program). However, I have many other things to pay such as books, housing (off-campus), and electricity bills, meals, gas, clothes, entertainment, etc. My question is this: If I get additional scholarships, will I be able to use that money to pay for what I chose? Does my college regulate that money, or can I use it to pay rent or bills? Do I receive the money or does my college receive it? What happens to scholarship money once college tuition is paid?

Answer 1

Some scholarships are paid directly to you. These are usually not related to the college you're attending. Most scholarships are paid directly to the college.

In most cases, you get "financial aid Christmas" -- that's a day each semester when we get all of the excess financial aid money in our financial aid account. ☺

Caution though - many scholarships are need based. That means if you get another scholarship that covers cost, you no longer have "need" and drop that one.

Know too - very often, if there is excess money (above tuition) in your financial aid account, you can charge your books to that account at the campus bookstore. There may be an application fee to allow this - look into it. Otherwise, you have to buy your books out of your pocket well before 'financial aid Christmas'.

Answer 2

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RE:
What will happen to scholarship money that is left over from college tuition?
I am getting ready to enter college and I have a state-funded scholarship that pays for my tuition at a state college (Louisiana's TOPS Program). However, I have many other things to pay such as books, housing (off-campus), and electricity bills, meals, gas, clothes, entertainment, etc. My...

Answer 3

Extra Scholarship Money

Answer 4

It really depends on the terms of the scholarship you have received. Some will actually allow the college to give you the remainder amount in the form of a check while other scholarships will be applied to future college tuition bills. The best option is to complete the FAFSA form because it will tap into need based financial aid including the work study program. I have included some websites below containing great information. Good luck!

Answer 5

What will happen to scholarship money that is left over from college tuition
http://scholarshipfaqs.net might help

Answer 6

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Unfortunately, you would need a LOT more than $20,000 in loans to get through NYU without much assistance from your parents--more like $20,000 a year at minimum, and at $80,000 your monthly payments would be about $500 or so a month for 20 years (roughly). You could ask for a year deferment, and discuss the situation with them and ask if attending the CC for that year is possible. Did you file the FAFSA form for the school? NYU is not known for being generous in the financial aid department. It's a tough situation to have gotten accepted and then have this happen. I would keep working at it, and see what happens.

Answer 7

Maybe. It depends on the scholarship. But I honestly don't think you can pay rent or your bills with that money. Maybe your books, since those are directly involved with your schooling.

In general though, I think that any scholarship money you get would go straight to your schooling.

Answer 8

Left over Money will be sent to your Home at the end of the Semester.or you can also ask at burser's office of your college.

Answer 9

Consult the financial aid office at NYU. They can guide you.