<p>My son wants to live off campus next year, so we were wondering if he could use some of his UA scholar money to pay for housing?</p>
<p>Which scholarship does your son have? UA Scholar covers 2/3 tuition, so there would not be $ left over for housing. If your son has scholarships that cover more than the cost of tuition, he will be refunded that money to use for housing or books, etc. </p>
<p>@BoBmiami96 </p>
<p>What would he use to pay for his tuition? If he has another award, such VA benefits to cover his tuition, then yes he can use his UA scholar award to pay towards rent. </p>
<p>However, if he doesn’t have another award to pay for tuition, then the award will go towards tuition first.</p>
<p>My son also has the engineering scholarship and leadership scholarship.</p>
<p>With the UA Scholar + engineering award 100% of tuition is covered. Then with the additional $2500 award from the engineering school course fees and any other university costs (parking, football tickets, etc) will be deducted, then the student will receive a check for any remaining amount. That money can be used towards books, rent, or any other expenses.</p>
<p>@BoBmiami96 </p>
<p>So, he has his tuition covered plus $2500, right?</p>
<p>So, that $2500 is going to go towards:
course fees
Dining Dollars
football tix - optional
parking decal - optional</p>
<p>So, he’d have about $1500 left, is that right? He’d get a check refund for about $750 a month then…so that can be used for whatever he wants…books, rent, etc. </p>
<p>But, obviously, it won’t go very far covering any rent…I think that’s why we were confused by your question.</p>
<p>@mom2collegekids You mean about $750 per semester and not per “month”. </p>
<p>lol…thanks! Yes! $750 a semester! Oh my!</p>
<p>I had the same question. DD has Presidential scholarship and engineering scholarship. Is that in writing anywhere? </p>
<p>Is what in writing? That you’ll get the left-over money? I don’t know if it is, but it is true. The money isn’t a grant, it’s a scholarship. The leftover money is given to you. </p>
<p>The scholarship award gets credited to your acct. Then costs are subtracted. Any remaining balance is returned to the student. </p>
<p>Any scholarship money left over after direct billed costs are refunded to the student about 10 days before the semester begins, with the exception of NM scholarship which comes 4-6 weeks after the semester starts. You can have a check sent or have it direct deposited to the student’s bank account. My daughter has had money refunded each semester.</p>
<p>Remember that excess scholarship $$$s will turn up on UA’s end of year T1098 form, so it’s basically reported to IRS for tax purposes.</p>
<p>Is there anyone who had a NMF kid that can give me rough ballpark on how much it increased their taxes last year?</p>
<p>When my child had the NMF scholarship…</p>
<p>Tuition part wasn’t taxed. And I believe any amounts that are used for fees and books aren’t taxed.</p>
<p>The STUDENT got the T1098, not the parent. It didn’t raise the parents’ taxes. It was as if the student had a job. The student gets the tax form. </p>
<p>I think the rules changed recently, so someone can chime in. </p>