<p>just curious but will the academy allow me to accept private scholarships and have those funds placed in my account?</p>
<p>if i get enough can it go towards paying off my loan early?</p>
<p>i havent seen this before so if they dont allow it iam cool with tht but mother is breathin down my neck to do them and time is ticking for them?</p>
<p>If the scholarship is just going to hand you a check, I would assume that money is yours to do with as you please. You could always defend that with the fact that getting to and from Colorado Springs is not exactly cheap, and that whatever scholarship money you got could be used to defer the price of flying home and back several times per year. That's probably would I would do anyway. I may be mistaken but I don't think the Academy can tell you what to do with scholarship money nor prevent you from depositing money into your bank account. It is yours, after all.</p>
<p>You can keep the scholarships here. They won't go towards paying off the loan early I believe, so you won't start making more money before any of your classmates. Just keep in mind the source of the scholarship may revoke it if they have conditions you don't meet going to USAFA.</p>
<p>ok thanks, i suppose i will be jumpin on a few of them soon...</p>
<p>did any of you accept scholarships that you were able to take to USAFA?</p>
<p>Hornet's exactly right - you can usually keep the scholarships, but I don't think you can pay off the loan early. My roommate just cashed a scholarship check the other day; it's definitely not uncommon to see here.</p>
<p>A little different but...I had a college savings bond that was deposited in my held pay. So, when they settle that, there should be a nice sum waiting.</p>
<p>Some of the JROTC and CAP scholarships work here (I'm not positive, but I'm pretty sure that's right). Not sure about anything else.</p>
<p>This is my first time posting and want to say thanks Raimus, Hornetguy and others for all the help and info you have provided over the last year and a half.</p>
<p>We have been dealing with this scholarship issue the last couple of weeks. My son is a 4dig and he was awarded a few local scholarships. None of the scholarships were paid in advance of his attendance. They all required fall final grade reports and proof of attendance. I had to make a few phone calls to find out the correct way to submit the scholarship checks.
If the scholarship donor writes the check out to you, easy enough and you can do what you please. You will always need the $$ for travel expenses etc. If the donor must write the check to the school, the check must be payable to the U.S. Treasury with the student's name and soc sec#. That check will be deposited into your held pay account and does pay down your loan. Another parent showed me a snapshot of his son's mypay account and it does show the credit and it does pay down the loan.</p>
<p>As a mom I say apply to as many scholarships that you are eligible for. Your first year expenses alone exceed $10K. Why not take advantage of paying that down if possible. Good Luck with your future plans.</p>