I have Sallie Mae loans. Can I use scholarship money to help pay my SM loans down?

Question

I have Sallie Mae loans. Can I use scholarship money to help pay my SM loans down?

Answer 1

depends on the scholar ships. most will specifically say no others dont care

Answer 2

If you receive enough scholarship to pay your entire tuition and books and have money left over, you can pretty much use it for anything.  Some scholarships do require that they only go toward tuition, so check the original notification letter to see if it is specified.

Answer 3

I would say no. You can not directly pay Sallie Mae with your scholarship, but if you do get a check in the mail from left over money from the college you can they pay it back to Sallie Mae