In my scholarship breakdown, it allots money to personal allowances and travel expenses. Is that money for me or an estimate of how much it will cost?
Did they give you the money to cover those things in your scholarship?
The items will be part of the Cost of Attendence, such as COA $60k. Of that $60k, say $55k will be tuition, room, board, fees. Then there is $5000 for books, toothpaste, travel, pizza (maybe even insurance).
Was your scholarship for $55k or $60k?
@twoinanddone It’s a full ride
No loans? No work study?
No
A ‘full ride’ doesn’t mean anything. How much is the scholarship? It will list what costs are being paid.
If the scholarship is broken down and list items, and then the money is part of the total, I’d think they are giving you that amount. The school will take the amount it needs for room and board, tuition, fees, and probably give you the rest. Ask them.
Personal expenses and travel are part of the cost of attendance calculated by schools. Your scholarship award letter should explain what it covers.
Why you need to find out is…how much in excess of the billable costs is your financial aid award. Billable costs are tuition, fees, room, board…and sometimes health insurance.
What is left after your billable costs are paid each term will likely be refunded to you at some point in the term. Find out if there is a surplus…and find out when refunds are given for them.
And any scholarship above tuition, qualified fees, and books is taxable income.