Leftover Scholarship Money?

Paying for College
1

<p>Hello</p>

<p>I was recently admitted to Yale, and my financial aid statement says that my family will need to contribute little less than $8,000 for the first year. I have a $30,000 scholarship that can only be used the first year of college (I asked if it could be split up into different years, but the program does not allow it (scholarship america)) so I have about $22,000 left over...</p>

<p>I obviously don't want any of my scholarship money to go to waste, so I was wondering if this $30,000 check is sent to Yale from Scholarship America, if Yale will refund the difference back to me...because I could keep it in my college fund and use the money to pay for the next 3 years.</p>

<p>Thank you.</p>

2

<p>My understanding about Yale, is that you cannot do what you are planning to do. You are on FINANCIAL AID at Yale, which means Yale has given you money ONLY because your family’s financial position is such that they should not have to pay, not because you earned this money or because you are any better than anyone else there who did not get the funds. So if you get the money, then Yale takes its financial aid money back so it goes back into the fund so that Yale can continue to admit students on a need blind basis. So your scholarship money is NOT going to waste. </p>

<p>Congratulations on your award, and helping Yale with its mission in providing full need to students like you.</p>