Lisa suggest's a good article. I'll stress though from a tax perspective the point about keeping track of all monies you received (loans, scholarships, grants, ... etc), what you spent it one, and what is left over. Keep receipts; you or your parents will need this for taxes reporting.
And if you do have extra monies left over at the end of the year/semester my recommendation is save it for future expenses against it's intended purpose (don't go out and buy non-essentials ... live frugally). At the end of your college, use the monies to pay down loans and debt you may have incurred while in school.
Best of luck!