I applied for a few different scholarships through my school this year. They will be awarded next month and are to be used for the 2017/2018 school year. The thing is I will be completing my degree fall 2017 and i only need to be enrolled part time to finish my degree. I have a few thousand dollars worth of loan debt, so I’m wondering if I can use some of the money to pay off some debt. Does anyone know if that is allowed?
If the scholarships which are not used to pay tuition/billed costs are refunded to you, and the money is in your bank account, you can do anything you want with it. The school will not pay or cancel your prior loans.
Are you sure you will get all the scholarship money if you are not a full time student? Look at the terms of the scholarships. Many issued by the school can only be used for billed costs. My daughter gets a few different ones from her school, and the merit scholarship can only be used for tuition. The grants can be used for fees and room and board IF through the school (no checks to landlords). The school will not give her any excess money that is not used, and it is just forfeited.