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08-03-2012, 02:46 AM
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Originally Posted by mike14 View Post
My understanding of scholarships over here (and I've never had one) is that they pay for tuition and maybe a bit towards text books. As such you don't actually receive any money, you just don't have to hand any out. That may be what he was talking about and I've just interpreted wrong.
In most cases (including this one) scholarships are credit. So he said he's getting 19,000 USD or credit per year towards the cost of school.

In some extreme cases, you can actually make money off of this.

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