How can you actually use scholarship money once you receive it?

I've been fortunate enough to start receiving some scholarship offers, but I'm not entirely sure how the money works once I get it. Do colleges handle it for tuition directly, or do I get the money to use myself? Also, what happens if there's money left over after tuition is covered? Can it be used for books or living expenses, or does it get returned somehow? If anyone has experience with this, I'd appreciate some guidance on what the process looks like once you're awarded a scholarship.

Congratulations on your scholarship offers! To answer your questions, it really depends on how the scholarship is structured. Generally, for scholarships awarded by colleges, the scholarship money is applied directly towards your tuition and other fees via the school's financial aid office.

Then comes the question of using the scholarship money. If the scholarship money exceeds your tuition and fees, in a majority of cases, the excess money can be used for other educational-related expenses like books, supplies, travel, etc.

For some scholarships awarded by third parties or organizations, they may send the check directly to the student, who is then responsible for forwarding the money to the school. Make sure you understand the stipulations and conditions of each scholarship as the process might slightly vary depending on the scholarship.

One thing is important to remember: always check with your school's financial aid office, they're the best resource to help you understand how your specific scholarships will be handled.

And of course, make sure you understand the tax implications of your scholarships! Any portion of your scholarship that's used for non-tuition expenses could be considered taxable income. You may want to reach out to a tax consultant or financial advisor to ensure you're compliant.

I hope this helps! Enjoy this exciting moment in your life.