President's Scholar?

<p>Hey everyone, I just got a letter from Caltech saying that I'm a President's Scholar. Apparently, they'll provide "an award equivalent to tuition".... does anyone know anything else about this (if they'll only pay for tuition, or books and living expenses, also?)</p>

<p>I received the President's Scholar letter also. It sounds like the money only covers tuition but it is given to us and we choose how to spend it (we still have to pay tuition). That is just a guess.
Congrats.</p>