Say that it costs me(and these are just made up numbers by the way) 6,000 to go to college. I get 4,000 in fin aid and 3,000 in scholarships. Since the total amount exceeds to total cost--do I still get to keep all the fin aid and scholarships or can I only take amounts to cover the cost of classes and books. If I can keep the extra money--can I spend it to pay off other bills(say Credit card)
I'm just wondering because when I went to school in IL(years ago) my Fin aid covered 70 percent of my school costs(and my first semester I also had 2 scholarships)
I've gone back to school this past semester and am only taking 2 classes but next fall i'm taking 15hrs(and Yes I know California is very inexpensive) but I still am applying for Fin aid and trying for about 5 diff scholarships. I highly doubt i'll make enough to have all my school costs covered--but if I do, how does that work with the excess money. Do you have to tell the fin aid place if you win scholarships and do they then reduce the amount of your grants or what??
btw I tried doing google search for this and lookign at the FAFSA page but I couldnt find the answer.