Where does scholarship money go?
What you’ll learn
- Where the scholarship money you’ve won goes
- How scholarships can affect your financial aid package
- What happens to leftover scholarship money
What you’ll learn
If you earned a scholarship, congrats! Now it’s time to put that money toward tuition and other education expenses.
Reyna Gobel is a journalist, author, professional speaker, and educator who's been quoted by Money Magazine, Real Simple, and The Washington Post. She’s spoken at hundreds of colleges across the country about student debt—and she’s the author of "CliffsNotes Graduation Debt" and “CliffsNotes Parents’ Guide to Paying for College and Repaying Student Loans.” Reyna was compensated for this article.
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Sallie Mae does not provide financial, tax, or legal advice and the information contained in this article does not constitute tax, legal, or financial advice. Sallie Mae does not make any claims, promises, or guarantees about the accuracy, completeness, or adequacy of the information contained in this article. Readers should consult their own attorneys or other tax advisors regarding any financial strategies mentioned in this article. These materials are for informational purposes only and do not necessarily reflect the views or endorsement of Sallie Mae.
You must apply for a new loan each school year. This approval percentage is based on students with a Sallie Mae undergraduate loan in the 2017/18 school year who were approved when they returned in 2018/19. It does not include the denied applications of students who were ultimately approved in 2018/19.