I’ll most likely be attending IU this upcoming fall, and have received $6,000 from the Provost’s scholarship and $6,000 from the Hudson and Holland scholarship. I’ve also received another $6,000 from an outside organization, but the money from there will only go towards tuition, so I was wondering if I would be able to use my scholarships from IU towards room and board costs. I can’t find any answers on the scholarship websites, so I was hoping someone knew whether the two scholarships from IU were strictly for tuition or not. Any feedback would be great:) Thanks!
Every expense you incur from tuition to room and board will be charged to your bursar. Your financial aid will be factored in to the account balance and you will only be responsible for coming up with the difference between the two.
I’m a student with Hudson and Holland support and other scholarships and they do not specify that you can only use it on certain parts of your cost of attendance. They only want to ensure that it is going towards your college expenses period.
If you are an in-state student, you may have to pay federal and Indiana income taxes, since your scholarship money will far exceed tuition and other non-taxable fees, etc. Scholarship money spent on room and board is taxable, and most of what is left over after paying tuition and room and board will be taxable, too.