An agency has given me a scholarship for $3,000 for college however my education is paid for in full.?
Answer:
Absolutely not. If you are sure that all the reporting requirements are met (in terms of reporting to both your school and the organizations), if you are sure that your tax liabilities from the funds are met, and if you are sure that you are completely covered in terms of your needs for school/housing/supplies, then take the money and set it aside in a savings account to use for your children's college needs.
no. it's not like you're just going to give it back anyway...
besides, you're EDUCATIOn may be paid for... but it's not your days of paying for college are over. you'll find there are a lot more expences down the line and that 3000 will come in handy.
Usually, those scholarships are earmarked as 'for expenses either directly related to your education or for expenses necessary to continue education'
What that means is that if your college bill is paid up, you still get the cash, but you should be careful to keep track of how you use it (if you need a computer for school, that's a good way to use some of it)
Be aware, however, that there is likely a clause in the scholarship that says they have the right to audit your usage of the money if it doesn't go directly to tuition or fees -- so if you want to use it for beer, at least have some good receipts for books and such!
Do you have student loans? Use it to pay those back. That way you used the money for educational purposes
You could use it for your summer tuition if it is not already paid. You can also use it to buy things you need for school such as supplies, a computer, a car etc... I am sure you can find something useful to do with it because even if you wanted to you can not give it back
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