Extra Money from FAFSA, what do I do?

turtletime
Sat, 05 Sep 2015 14:00:29 +0000

Like others have said, you need to nail down where it’s from. It’s not “from FAFSA.” Make 100 percent sure it’s not a loan (over-payment from a parent plus loan 1st semester is sent to the student, not the parent who took out the loan.) Before you spend it, find out how much money is needed for next semester tuition and housing. Subtract your financial aid and see if there is still over-payment next semester. It’s not unusual for there to be over-payment the first semester because a housing deposit or enrollment fee of some sort was deducted from the total. The Spring semester total can be a touch higher simply because there wasn’t a deposit to subtract.

If it is grant money, then it’s meant to help you with books, supplies and living. Bank it and use when necessary.