The money on RaiseMe represents scholarship dollars from colleges and is applied as a traditional college scholarship would be - as a discount to students tuition when they enroll. There is no cash from RaiseMe or from any of our college partners.
As long as they are submitted, scholarships are awarded in their financial aid package if they apply, are accepted to, and enroll at one of those colleges.
Please note, RaiseMe may not be mentioned in their award letter! For example, a student might have earned $2,000 from a college each year on RaiseMe, and end up receiving $4,000 total. Those scholarships will come from different funds and it's very likely they will not say "RaiseMe" on them, but as long as the college provides at least the dollars promised on RaiseMe, they've met their obligation and all is well.