Is the loan repayment done after receiving the scholarship?
25 Jun 2026 · Answered by Deepak Kumar · 1 min read
No, scholarships do not require repayment. If you receive a scholarship after taking out a student loan, you can use the scholarship funds to pay down your existing loan balance.
Notify your loan servicer if you receive a scholarship after your loan has been disbursed, so the funds are applied correctly. Some scholarships may have specific terms on how the money can be used - always check the scholarship agreement for any restrictions.
Using scholarship funds to repay your loan can help reduce your overall debt and interest.
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