What do I do with Scholarship Money? I (18M) just graduated high school and am going to college soon. I was able to secure a few scholarships worth a total of about $42,000 / year. The school I’m going to is public so tuition is only about $8,000 / year, leaving me with $36,000 / year to cover my other expenses. My parents are willing to cover all housing, my car insurance and my c…