<p>Anyone know what to do with excess scholarship money? I won a few scholarships before I received my financial aid award and now it looks as if most of it will be spent replacing University grants.</p>
<p>So far, I know the outside scholarship money can go towards covering the Student Contribution (expected summer savings) portion of my package, the work-study, and also student health insurance.</p>
<p>I can also purchase one computer or laptop using outside scholarship money during my 4 years of undergrad. This includes one printer and "necessary software." Apparently, there's no price limit, but I doubt I'll be getting a $5000 laptop.</p>
<p>If anyone else has been through a similar situation, please let me know if there's anything else I can do to maximize the worth of my scholarships. I really need some advice.</p>
<p>I don't want my scholarships to just replace University money, because that's such a waste. As if colleges need to save money!</p>
<p>I'm considering deferring what I can for another year, but I don't see my financial aid package changing anytime soon.</p>
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now it looks as if most of it will be spent replacing University grants.
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<p>If that's your college's policy, then that is what will happen. You can't just "decide" that it can go towards your student contribution unless your college says it can. You can't just "spend it on a computer" and retain your university grants unless your college says so.</p>
<p>Speak Easy...same spot as you...got the gates..plus 10,000 in outside scholarship.....i called all my other scholarship..and they refused to give me cash....arrgg....some say they might pay for summer tuition or something....try that...</p>
<p>Here's what I'm doing:
1) If the "extra" money is only there for freshman year, see if you can defer any non-renewable scholarships until later years, or if they bring extra benefits.
2) When that's done, figure out what your scholarships do with the money that you decline. Find out which scholarships will, when declined, offer money to other students, save it for next year, etc.
3) Decline scholarships that fit the description in #2, and scholarships that you are still competing for (semifinalist, finalist, etc), so that others can have a chance at the money you won't use. Save the scholarships that fit the description in #1.</p>
<p>My status: I've removed myself from the running for Lowes and Price Chopper scholarships, I'm finding out whether I can defer the AXA Community Scholarship, and I chose not to apply for a bunch of local scholarships. I'm deferring most of the Horatio Alger Scholarship for later years and perhaps summer school, accepting Gates because they give a $250 freshman award no matter what and because they have graduate funding, events, mentoring, and other things I may want to take advantage of in the future.</p>
<p>ethanrt, that is really great of you to remove yourself from the running for those other scholarships. I doubt that a lot of kids would think of others in that way.</p>
<p>yeah thats very thoughtful if i got gates i would have been more than willing to do the same but i got a lot of little scholarships that are for one year so i got to save up every penny i get...im also kind of in the same predicament. i got aid that exceeds the cost of attendance at my school...my aid is made up of federal grants and outside scholarshps. i didnt receive ANY money from the school so does that mean they have to give me my remaining funds or do they have the right to reduce the federal grants as they do to their own scholarships (presidential, etc.)</p>
<p>I already withdrew from several scholarship applications and I do not plan on applying for any of my school/community's local scholarships.</p>
<p>I spoke with FA office already, and the extra scholarship money I have is after they said I could put some of it towards the student contribution, health insurance, and the laptop purchase. I don't have loans or a work-study as a first year.</p>
<p>It's not just me who's bothered by using scholarship money to replace university grants, I spoke to one the scholarship organizations about deferring and they were definitely unhappy at the prospect of "subsidizing" a university. In fact, the woman in charge said her organization wants to reward and support students and they trust that scholarships will be spent appropriately according to the scholar's needs.</p>
<p>I feel really lucky, but this situation still stinks. If my scholarships are just going to my school and I'm still paying for college expenses (stuff that isn't necessarily figured into COA) because I can't use the money I worked hard to earn, I wish I could give the money back so someone could have it and use it well. But I can't do that either!</p>
<p>Hamman, the price limit is suppose to be $2500, but the FA counselor told me they don't actually care if it goes over.</p>
<p>@speak easy..are you for real....when I spoke to my FA counselor...she told me 2500....when I bought a mac...it cost like 2600. total...then I told the people there to give me two receipts..since I wanna to buy applecare....that means that could've pay for applecare....ahhh man...oh well....i still feel really guilty of all the money gates will give us....ahhhh</p>
<p>and for those outside scholarship....i got them before I found out about gates.....after that..i haven't filled out a scholarship application yet....i felt bad..and talk to my senior counselor....and she told me not to feel bad...so now I don't :)...</p>
<p>I'm not sure if Gates has a price max, but I meant that my school said it was okay if I went over the $2500.</p>
<p>Yeah, I haven't applied for anything since I found out about Gates.</p>
<p>I feel really fortunate, and it's not a bad problem to have, but a problem nonetheless. My school gave me a near full-ride, Gates is funding me for anything I could possibly need, and I have a couple of scholarships that I can't really use towards anything worthwhile and won't go to anyone else if I decline them. o_O</p>
<p>well a way that we can look at is that the scholarships will reduce the university grants than in turn may go to a student that was on a waiting list for financial aid or something</p>