You completed the Free Application for Federal Student Aid (FAFSA) and submitted all the needed paperwork.

Now you are enrolled in school and your friends are talking about getting a refund check. An email sent from your college says the funds will be available soon. Spring break is coming up and some of your friends are talking about going to the beach. Then you get another email from the campus housing office. They are asking you to save a few hundred dollars for the housing deposit for the upcoming fall semester.

Now you are curious. Is a refund going to be in your bank account? You may be wondering: “Is this extra money for me to spend?”

Let’s review how this works.

Continue reading Is a Financial Aid Refund Check Really ‘Extra’ Money? →