If you earn more scholarship money that you need as a freshman, will schools hold in your account for payment of future years? I'm assuming the scholarship money will be sent directly to the college, rather than to the individual.
Maybe. If you are receiving need based financial aid, any outside scholarships will actually reduce your need...so you could get less aid.
If you actually have a surplus at the end of the term or year (school dependent on when this decision has to be made), the school will give you the choice of a refund OR some schools will allow you to have a surplus in your bursar's account that could be used for subsequent terms of school.
It varies with the school and as thumper says, if you are receiving need based FA.
D1 had a merit scholarship from the school that covered tuition/fees/R&B, as well as outside scholarships, the school cut her a check at the end of the year for the surplus.
