<p>What happens if a student accumulates quite a bit in scholarship money, then ends up getting a full ride to the school of his/her choice? what do they do with that extra money?</p>
<p>I'm not an authority on the subject, but I think it depends on the school. Some schools keep it - you are still getting a full ride, they are just not having to provide all of it. Other schools let the student have any extra scholarship money they have "earned". If you ask, the individual school will tell you their policy. Freshman year my daughter had a roommate who was given a "remainder check" that was @ $3,000 EACH SEMESTER!! We figured this girl would get her college degree paid for and come away with close to $25,000 in EXTRA cash. Not a bad deal. Come out of college debt free and able to put a down payment on a house!! Daughter has seen several cases of this at the large public U she attends.</p>
<p>Hey, could you send some of it my way? LOL</p>
<p>Seriously, many schools will allow you to buy things through the school that aren't part of the "full-ride" amount (that traditionally means, tuition, fees, books, room-board). </p>
<p>For example, if a school has a travel office, you may be able to use some of that money to buy plane tickets home during break. Or s/he may be able to purchase a PC through the school even if no specific class requires it.</p>
<p>I think sending it to goaliedad via CC would be a better idea, though ;}</p>
<p>The only way for someone to keep funds that exceed the COA is to have *100% merit * money. Except if attending one of the handful of schools who REFUSE federal funds, it is impossible for anyone who receives need-based financial aid to "make" money by keeping funds above the COA. </p>
<p>Please note that the COA might include funds that APPEAR to be extra money (books, supplies, travel, and personal expenses.) And, FWIW, students on a full ride should remember that Uncle Sam is waiting for his little share of the windfall in April.</p>