<p>I have won about $31k in scholarships for college. Some have been paid directly to me already (I am not touching it). Some will be paid over the course of four years. Some will be paid only to the school upon the completion of certain tasks. However, some of them have stricter rules than others. The money that has been sent to me doesn't have much limitation besides using it for college related expenses. Other scholarships say I must use the funds during a certain year or for certain things. One scholarship, for example, can only be used during freshman year and must be used for tuition, books, or student fees ONLY. My question is can I tell my college, when I give them all the scholarships to put into my student account, about these limitations so I can assure I don't disobey the various scholarship committees? Some with stricter limitations have said they will likely demand receipts to prove their scholarship money was used specifically for what they told me earlier.</p>
<p>You can keep track for tax purposed. If you actually give them a check from the donor, then yes, you can apply that to tuition. If you write a check from your account, they are going to apply it to your account (one BIG account) and you can keep track of where it goes.</p>
<p>For example, if you owe $4000 for tuition and $4000 for R & B, you can just write one check for $8000 but you know it is 4 and 4. The only problem is if all the money must be used for tuition (and you have too much) some scholarship require you to return the overage. (Good news is some let you keep it). Just keep track.</p>
<p>The problem is that my tuition/fees is like $48,500 and just the cal grant, Pell grant, and the grant from my university cover like $42k in total expenses (my total cost is $65k). By the way, these numbers are for one year only.</p>
<p>IF the scholarship in question can only be used for tuition, ask if they can apply your scholarship funds to the tuition and the pell grant bee applied to your room/ board. Some of the other scholarships can be applied to your books/supplies and ask if you can use funds toward the one time purchase of a computer.</p>
<p>If you don’t have adequate health insurance as if you can use some of the first year monies only toward the health insurance that you may need while at school.</p>
<p>You are supposed to report all scholarships to the college because there are rules, federal and often college and state as well that does affect those awards if the student gets outside money. That is something you might want to consider.</p>
<p>Also, there may be tax implications as well as restrictions on how scholarships are to be used. Do let the Bursar’s office know if you have such awards and ask for their cooperation in applying the moneys. You may have to go on a payment plan, if the funds are coming directly from a scholarship source and will not be in your account when the money is withdrawn to pay the amounts direct billed by the university. If you get those checks that are for specific purposes into the account, you can then draw up your own lines as to how they were attributed. </p>
<p>As stated above, all scholarship and grant money has to be reported to the school. Sent the bursar’s office copies of all of the letters that came with the checks that came directly to you. Checks that go directly to the school should be accompanied by a letter of explanation from the organization that is sending it on your behalf ( I know that the ones my daughter received did, anyway). The scholl can then send acknowledgments that the money was spent as directed.</p>