Refund Checks

cptofthehouse
Sun, 30 Mar 2014 23:27:49 +0000

When you get your financial aid award, be aware that it is released per term. it goes into your student account, and the school takes out what you owe in tuition, fees—and if you are signed up for it, room and board. You then get what’s left and each school has its own rules as to how it releases that money. Some schools hold onto it until the drop date. You need to call the Bursar’s office and ask how they handle this.

When you rent an apartment off campus, many times you need to put down a security deposit and first months rent before you can move into place. Unless the landlord is somehow in tune with the way colleges work, which is highly unlikely, you are going to have to front that money. In some high rent, low availability areas, you need three months rent up front. Deposit, first and last month’s rent, credit check and lease signed and notarized and parental co signs.

It is also a very good idea to make sure that the college knows you are not living on campus. Some awards are made on that basis, and it can be a nasty surprise to see that money not appear when the school finds out you are not living on campus. But, yes, when you get a financial aid award that is over and beyond what the cost of the tuition and fees are, you can get the excess funds to use as you please.