Extra Money from FAFSA, what do I do?

mom2collegekids
Sat, 19 Sep 2015 14:30:41 +0000

I’ll use this analogy that may help you understand…

You have a hamburger coupon for Wendy’s and it will expire on Dec 31st. You take it to Wendy’s TODAY and use it to get $1.00 off your purchase. Good. You gave it to the cashier today (in September) at Wendy’s before the expiration date. That doesn’t mean that after Dec 31st, Wendy’s is going to come back and ask for that $1.00 back…because you properly used it before the expiration date.

The bank teller is like a cashier

Hopefully, you GAVE the check to the teller recently (before the 6 month expiration date), and the teller either gave you cash OR deposited the money into your account. So…you properly “used” the check before its expiration date. The money is yours, no one can take it.

BUT…if you are still holding onto the paper check, and you forget that you have it, and then next June you find it, then you won’t be able to give it to the bank because the check (coupon) will be expired.

If you still have the check, go to the bank on Monday, sign the back, and either get the cash or have it put into your account.

Does that help?