If you get the funds directly, or indirectly as a tuition refund, you can typically spend the money on education-related expenses like room, board or books. Some groups also approve scholarship spending on living expenses, like dorm room furniture or groceries.

What can scholarships pay for?

When it comes to paying for college, students also have to pay for room and board, books, fees, transportation and living expenses. Just as you can use scholarships to pay for tuition, you can use scholarship money for living expenses as well.

Do you need to pay back a scholarship?

Students do not have to repay grants or scholarships, which are considered gift aid. Grants are typically awarded by the federal government, states or colleges and are usually based on financial need. Scholarships are typically awarded for merit, athletic talent or other student achievements and characteristics.

What can I use my scholarship money for?

Here, students will be able to view if you can use the scholarship money for living expenses. Some scholarships can be used for tuition only. Others can be used for tuition, fees, room and board and books. There are plenty of scholarship opportunities, however, that can be used for whatever.

Can you use scholarship money for room and board?

Ultimately, if a student has their tuition covered by other scholarships and grants, it’s best to use any additional money toward room and board. While there are thousands of scholarships out there for students to pay for college, not all scholarships are created equal – and that doesn’t just apply to dollar amount.

Do you have to pay taxes on scholarship money?

“Amounts spent on living expenses, such as room and board, are taxable.” So if you spend your scholarship on tuition and books, you could see a bigger tax break. But if you’re spending it on beer and pizza, you won’t get much relief come tax season.

When to apply for scholarships for living expenses?

Students can fill out the FAFSA as soon after October 1 to qualify for these types of awards. They may also need to file a separate application with their state. Students can use these types of aid, along with scholarship money, for living expenses.