<p>When applications have either "financial need" or "struggles overcome" as criteria for judging, does one really have any business applying to or, rather, any hope of obtaining such scholarships, particularly if one's parents make around $100,000 combined and, truth be told, one has had a relatively easy-going existence? Likewise, is it possible to use a scholarship that is specified for "tuition, books, fees, room and board, etc." for something a bit my forethinking, like investment, if such fees are already covered in other scholarships? Also, do colleges generally have a limit on the amount of merit-based aid one can obtain, even after other scholarships have covered the costs of college itself? (The reason for the last question is that a local public college offers a $500 renewable scholarship per AP test taken.) Comments are appreciated and thoughts are welcome. Cheers.</p>
<p>Hmmm... I understand why you'd want to accept the extra scholarships and invest (that would be sweet!). But would your conscience be ok with that? They are intended to financially help kids get through college. If you're already set financially, not only are you taking from a student who needs the money, but you are also destroying the philanthropic goal of the scholarship organization. I just would not feel comfortable with that, esp. if it's an "in memorial of" scholarship. Instead, I'd just get a part-time job and use the money from that to invest.</p>
<p>Generally (at least in most of the scholarships I've seen and heard about), any money you're awarded is given right to the college, who subtracts it from your financial aid (the loans first, luckily, followed by grants). I just received a $250 scholarship from my town, and the town arranges to have the money put on my student ID/debit card at college, so I can use the money around campus. Rarely do you receive a check in your name for a scholarship, although I'm sure it does happen on occasion.</p>
<p>As far as scholarships that take need into consideration, I would say it depends on the type of school you're attending. Even families with $100k incomes have a lot of trouble affording schools that cost $45,000-$50,000 a year, especially considering they generally don't receive that much financial aid. </p>
<p>Your idea of investing is well thought out, but I agree with the poster before me. Also, with the way the stock market has been acting recently (though it just barely seems to be on an upward trend), I wouldn't want to risk any scholarship money in something so unpredictable.</p>
<p>Pretty much every scholarship I've heard of they send you a check addressed to the school.</p>