No. Tuition Rewards are not awarded in cash.
If all requirements have been met, by submitting the Tuition Rewards, you are guaranteeing that the student will be awarded scholarships, grants, or other discounts at least equal to the amount of points submitted (each point is equal to a $1.00 guaranteed minimum scholarship). The points are redeemable only at participating colleges and universities.
The financial aid award letter may not specifically identify "Tuition Rewards". Colleges reserve the right to privately label Tuition Rewards Points as their own award. As long as the college award equals or exceeds the student's submitted Tuition Rewards Points the college has met its obligation.