How often are Scholarship given depends on the institution or organisation giving the Scholarship.
Scholarships are offered in different forms, either it comes only one time, that is the type of scholarships that pays for maybe one year and never pays again.
Secondly, there are Scholarships that are meant to take care of your Bills from the beginning till the end of your University days.
Theses scholarships are given on yearly basis, at every year, we see companies that are giving out Scholarships to over a thousand students across the globe, some do sslelevt the side they wise to award the Scholarship.
When Scholarship Exceeds Tuition
Sometime in most of the developed countries, when Scholarship exceeds tuition fees, you will be allowed to pay some tax returns.
Receiving too much money from different scholarship opportunities can be very nice but there is something called Scholarship displacement also called stacking. This is applied when the school have given you grant or loan and you receieves a scholarship from a particular brand or organisation, the school will deduct that amount from the grant which was given to you.
This is because when you win a private school, it will now look like you have enough money to pay for your school bills so your demonstrated school need will decrease.
Meanwhile, in some places the above is not always the case, some schools will take away the loan you have been given and replace it with the money from the Scholarship you have gotten.
Can you keep extra scholarship money
If you you have left overs in your Scholarship money, the school might send you a refund.
What this means is that, if you have won a scholarship or grant from a private sector and the money for the Scholarship is way more than the total money needed for your entire years in school, the institution will deduct their own then send you the rest for your up keep.
Can you Use Scholarship Money For Living Expenses
Scholarships are free monetary award given for the purpose of offsetting school related issues and it can come in different ways.
Some persons would really think that Scholarship money can be used for anything but that’s not always the case.
Before spending your Scholarship money, you should be able to find out if the money can be used for other things or is it strictly on school fees. I’m sure it will be on the rules and regulations guiding the Scholarship.
Does Scholarship Money go to Your Bank Account?
This depends on the people giving the Scholarship. If it is coming from your school, then you won’t be paid but if it’s coming from a private entity, it will either be paid to the school directly or will be paid as check In your name.
In some cases, it can be paid directly to your bank account.
Your school expects you to tell them about any kind of grant or scholarship you have won, to help them document it.