What Happens if You Get Too Many Scholarships?
Getting too many scholarships can be a great problem to have, but it can also be a bit confusing. If you’ve earned scholarships and grants that add up to more than your total cost of attendance, you may be wondering what happens to the leftover scholarship money.
The first thing to know is that your school will likely send you a refund of the leftover scholarship money. This is usually done via a check or a direct deposit. It’s important to note that you may have to pay taxes on that amount, so be sure to consult with a tax professional if you’re unsure of the implications.
Another option is to use the leftover scholarship money to cover other costs associated with college. For example, you could use the money to pay for textbooks, supplies, or even room and board. You could also use the money to pay for a study abroad program or other educational experiences.
Finally, you could also donate the leftover scholarship money to a charity or other organization. This is a great way to give back and make a difference in the world. It’s also a great way to show your appreciation for the scholarship donors who made your education possible.
No matter what you decide to do with the leftover scholarship money, it’s important to remember that you earned it. It’s a reward for your hard work and dedication, and it’s a great way to help you reach your educational goals. So, take the time to consider your options and make the most of your scholarship money.