I'm looking into the financial side of college and was wondering if scholarships can also be used for room and board, not just tuition. Has anyone had experience with this?
Absolutely, several scholarships can be used to cover the costs of room and board in addition to tuition. The terms of the scholarship will generally clarify what the money can be used for, so it's vital to check that. Some scholarships are set up specifically for tuition and mandatory fees, while others can apply to any part of the cost of attendance, including room and board, books and supplies, or even personal expenditures. For instance, the Jack Kent Cooke Foundation's scholarships cover portions of room and board.
It's also worth noting that when you receive a scholarship, the funds will generally be sent directly to the school, not to you. Once the tuition and fees are paid, if there is money left over, the school typically issues a refund check, which you can then use to pay for other college-related expenses.
Remember one essential tip: You're supposed to report all scholarships to your financial aid office. If you don't, you could potentially ruin your financial aid eligibility. It's a bit of paperwork, but it's necessary to keep everything in line.
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