Some of the people here at work need to add a drop-down list to one of their
excel worksheets. They want to be able to edit the entries after it is
selected. For example - in the list is the value Premium Paid For. They
want to select that value and add more description like a month. So, the
final detail in the cell would say Premium Paid for April.

I am not sure that it can be done...I am hoping an expert user may be able
to help.