Have you received a refund but aren’t really sure what it’s for?
Well, you’re not alone. Many college students receive Financial Aid refunds from their school when the total amount of Financial Aid awarded exceeds the amount owed to your college or university for actual tuition and fee charges. 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. Keep in mind that 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 semester.
Enter the total amount of your refund
Enter the number of weeks in your semester
Then hit Calculate!
If you receive more refund dollars than you require to get by, consider returning any unused funds. This will reduce the amount you will eventually have to pay back, including interest expenses.