<p>If you got a scholarship to your college, did your parents offer you any of the money as a "reward" since they were planning on paying your full tuition anyways?</p>
<p>I realize that many kids have to pay their tuitions all themselves, and thus if your parents let you keep some of the scholarship money, we are obviously very lucky.</p>
<p>I think I am extremely spoiled and lucky in that I got a $100,000 scholarship, and my parents are going to give me half of that money as a reward, and since they had already planned on paying full tuition before I got the scholarship.</p>
<p>Have your parents or the parents of people you know done similar things? What do you think of this practice?</p>
<p>I think your parents would be better suited investing it for you. Just handing you the money would be stupid, IMO. That money should be for your first home or your wedding or children or some other large life milestone to cushion the financial blow. Predetermine that event and don't touch it until then.</p>
<p>well i think part of the reason they are giving me so much money is because they trust me with it as I have demonstrated that I am good with money and do not just blow it all on random crap.</p>
<p>Also, they are not giving it to me all at once.</p>
<p>I think they should "give" you that money, but in terms of an investment like Silver said. Most college kids would probably blow that money on stuff they wouldn't need, not saying they're bad, or stupid or anything, but thats just how it is.</p>
<p>Spending it at all would be blowing it. You have an awesome opportunity to be able to be relatively financially independent after college and have a cushion in case you don't get the dream job straight out. Save it for that. Maybe take a few thousand out for your expenses throughout college, but save/invest the rest. </p>
<p>It doesn't matter how responsible you are with money. The only responsible thing to do would be to insure it for your future, IMO. I mean, I'm sure mommy and daddy bought you a car so you don't have to worry about that. If you save it, you'll be more inclined to get a job and be a normal person like everyone else rather than live like a trust fund baby.</p>
<p>My parents told me that I would need to take out a 10k a year loan to go to a full cost private school. If I go instate or get 10k scholarship, then I dont have to take a loan. Any other scholarship money and they pay less. If I get a full ride they give me a big fat gift of like 100k in the form of a house down payment, car and rent when I graduate and get my first job, and for stuff like that. I decided to go to a college and pay the full cost. Hope it was worth it...</p>
<p>my brother got a full scholarship to college.. they bought him a $3000 computer when he went and arent giving him any of the "saved" money but theyre paying for med school which he starts next month.. seems like a fair deal to me.</p>
<p>i got $16,000/year to a college that i decided not to go to. my parents were quite disappointed that i chose my $48,000 a year but they said choose where you really want to go. they would have bought me a new car when i decided i wanted one and wouldve given me some of that money towards when i wanted to move out on my own. instead im going to have to take out about $50,000 in loans over 4 years for the cost of school that they wont cover. but i dont think ill regret it..</p>
<p>No. I am getting 30k a year and I have to pay the rest back which is like 60k total (45k-30k=15k. 15k*4) to my parents. My mom even suggested paying back interest too, but I just shrugged it off.</p>
<p>My parents would never trust me with that much money because they think I am an idiot. Oh well, what can you do? The world keeps on spinning.</p>
<p>My parents already have almost all my college funds saved so if I decide to take a fullride they said they would just change the account to be a savings fund I could access in like 10 years or whatever to buy a house.
As another incentive they also said if i take the full ride they would send me basically wherever for spring break trips ;)</p>
<p>Well, my mom definitely could not have afforded to pay for my college if I hadn't gotten a scholarship. But I have a full ride so she pays for my car payments and my cell phone and my laptop and buys me food sometimes. Hopefully most of you realize that you are exceptionally lucky to have parents that would/could pay for everything.</p>
<p>I pretty much just planned on needing scholarships through the whole application process. I wouldn't have been going somewhere with no money.
they're still paying a lot, so I'm definitely not getting money back.</p>
<p>My parents offered to buy me a car if I went in-state, plus with the scholarships I would have had I would have been getting back several thousand a year anyway. I would have had free tuition through the PROMISE scholarship (guarenteed to all WV residents that meet certain criteria that I met) plus free room/board for living at home, at least until/if/when I decided to move out, plus at least 10k in scholarships for my freshman year (which I got anyway going out of state), not including ones I could apply for since I was going in state, which would have totalled a possible extra 15k. Yeah, I left to study what I actually wanted to study out of state.</p>
<p>My sister went OOS and i'm going IS, so I'm saving them ~$50K, so they're going to help me out with grad school which is fair. My dad also made us a deal when we got our first car junior year of high school that if it survived through most of college (as in we not total it...if the accident isn't our fault it isn't counted against us), they'd buy us a brand new one (or close to it, frankly a year old car with ~15Kmi on it is the same thing, just costs thousands of bucks less). My sister wrecked hers at the end of her senior year, and she's had the same car since. Sucker. I still have mine, love it, but are looking forward to a new car in the next year or two.</p>