Scholarships are a great way to help pay for college, but what happens to the money if you don’t go to college? Many students don’t realize that if they don’t use the scholarship money within 12 months of receiving it, it will expire.
When you receive a scholarship, the money is typically put directly towards your college’s tuition and expenses. It is not sent to you as a check, so if you choose not to go to school, the money will not be put in a savings account for later use. Many times if the student has not enrolled in classes during those 12 months, it expires.
In some cases, the scholarship may be transferable to another school. This means that if you decide not to attend the school you originally planned to, you may be able to transfer the scholarship to another school. However, it is important to note that not all scholarships are transferable. It is important to check with the school or organization that gave you the scholarship to see if it is transferable.
If you are unable to transfer the scholarship, you may be able to receive a refund. This is typically only possible if you haven’t already started classes at the school. It is important to check with the school or organization that gave you the scholarship to see if they offer refunds.
If you decide not to go to college, it is important to remember that the scholarship money will not be put in a savings account for later use. Many times if the student has not enrolled in classes during those 12 months, it expires. It is important to check with the school or organization that gave you the scholarship to see if it is transferable or if you can receive a refund.
Scholarships are a great way to help pay for college, but it is important to remember that if you don’t use the money within 12 months of receiving it, it will expire. It is important to check with the school or organization that gave you the scholarship to see if it is transferable or if you can receive a refund. Doing so can help ensure that you don’t miss out on the opportunity to use the scholarship money.
