An Easy Way to Make Your Refund Last!

When it comes to your Financial Aid refund, remember that these funds are provided to help you with your out-of-pocket college expenses such as books, transportation or rent if you are living off campus.

After all, a good portion of these refund dollars may be from student loans that you signed up for.  These funds will have to be repaid when you graduate or leave school, so it is important to spend them wisely and make sure you have enough money to last the entire semester.  This “Make it Last” Calculator will help—making it a little easier by giving you an idea of how much you can afford to spend each week.

And it’s easy to use! Simply enter the total amount of your refund (or the amount left over after you have purchased your books) and the number of weeks in your semester.  If you have $900 left after you purchased you books and the semester lasts 15 weeks, for example, you can afford to spend about $60 per week on living expenses such as gas and food.

Even if you receive more refund dollars than you require; consider returning any unused funds.  This will reduce the amount of student loans you will eventually have to pay back, including interest expenses.

What is your strategy for making it last? 

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