Restrictions on Use of Loans/Scholarships? Forum
- AgentSCo
- Posts: 34
- Joined: Tue Dec 30, 2008 6:25 pm
Restrictions on Use of Loans/Scholarships?
I was fortunate enough not to have to take out any loans during UG, so this process is a little new to me. I was simply wondering how the use of loans and scholarships are restricted. More specifically, can I use portions of my loans and scholarships to pay for non-school related expenses (ex: car payment, credit card payment, etc.)? Any insight would be greatly appreciated!
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Re: Restrictions on Use of Loans/Scholarships?
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Last edited by xyzzzzzzzz on Thu Jul 08, 2010 10:20 pm, edited 1 time in total.
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Re: Restrictions on Use of Loans/Scholarships?
You aren't supposed to but nobody audits you.
- smov_operator
- Posts: 159
- Joined: Sat Mar 13, 2010 9:45 pm
Re: Restrictions on Use of Loans/Scholarships?
No one will notice or care as long as your tuition bills are paid and you don't try to go over the total cost of attendance.
- AgentSCo
- Posts: 34
- Joined: Tue Dec 30, 2008 6:25 pm
Re: Restrictions on Use of Loans/Scholarships?
The amount that I envision having to devote to said expenses will probably be very minimal, as will my costs of living expenses. I'm really just inquiring as to the technical aspect of the matter - whether you're "allowed" to use loan or scholarship money toward past debt, even if the amount is minimal.
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- AgentSCo
- Posts: 34
- Joined: Tue Dec 30, 2008 6:25 pm
Re: Restrictions on Use of Loans/Scholarships?
I see. The school I'll be attending included "Credit Cards" as an estimated expense for the academic year, so I didn't really think it would be a problem.Desert Fox wrote:You aren't supposed to but nobody audits you.
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Re: Restrictions on Use of Loans/Scholarships?
Ok, maybe you are allowed to then. Either way they give you whatever is left after tuition and you do whatever you want with it.AgentSCo wrote:I see. The school I'll be attending included "Credit Cards" as an estimated expense for the academic year, so I didn't really think it would be a problem.Desert Fox wrote:You aren't supposed to but nobody audits you.