Can the amount awarded be retained as cash? And if so, how?

I ask cause in my student account, my balance shows as $0 and the scholarship amount has been automatically subtracted from my tuition.

Well, if you paid the full amount for your tuition anyway, you'd end up with a positive balance in your account and McMaster would eventually (around February, I believe) send you a cheque for the difference.

That's just a bit inefficient, though.