So, I got an scholarship that will cover my tuition and room and board. Recently I also got some scholarship from local organizations that will be sent directly to my college. So, what will happen to these overflowing funds then? Can I use them to say, buy books, computers or transportation from/to my home? Or can I just use them as stipends? Anyone has experience?
Policies are set by the individual school. The best people here can tell you is what they’ve seen schools do - they can’t tell you the answer in your exact situation. You need to contact the financial aid office.
It is not uncommon for schools to deduct any outside scholarships from what they are awarding you, in which case there would be no overage. However, some schools - and some scholarships - are structured in a way that allows you to use the overage for other expenses or to even get a refund.
Call your school.
http://studentaid.emory.edu/types/grant-schol/external-scholarships.html
It is important that you educate yourself on the policies of your school. Give Emory FA a call–they will be happy to answer your questions. No one here can help you with out seeing your award letter.
And any scholarships over tuition is considered taxable income.
Um, feel free to share with the bjkmom family!
The suggestions above regarding contacting Emory directly is best, but here is a little extra input from my experience in case it gives you some insight into your situation.
Cost of Attendance at most universities include 1) Textbooks and supplies 2) Transportation 3) Personal Expenses.
For example: if your Direct Cost (that’s usually only tuition and room/board) is $21,000, and your college’s COA includes those other expenses listed above and is (let’s say) $25,000, the school will disburse scholarships/aid up to that $25,000 amount (or whatever your college’s COA may be.)
If you have aid in excess of COA, they will (likely) first reduce loans, then work study, then federal or state aid, and then scholarships.
Sounds like you are funded by all scholarships, so if your total scholarships are over what they consider COA as you say, you will likely have to just give the excess up. They can’t legally give you money for school beyond the COA.