I’d recommend you not do things like more expensive dorms or buying supplies just to use up the money. If you don’t need (or want) to live in the more expensive dorm, don’t do it. You will be paying taxes on that ‘free’ money so only do things you really want to do.
Kids forfeit scholarship money all the time. If you’d gotten into two colleges, both offering a full ride, you’d have to turn one down. $60k right out the window, but people don’t think about that. Football players can only take one scholarship even though they might get 5 offers. If they get outside scholarships, they can’t take them.
See what can be deferred to another year, see what can be used for study abroad or grad school, and don’t worry about the rest. If you’d rather have the outside scholarship than your school’s offer, I’m sure the school would like that. Your school might even be willing to offer you a 5th year, or study abroad in exchange.