Understand how to use your aid

Understanding your costs and options will empower you to make more informed decisions about your funding. Make lists of additional actions needed for the aid you are utilizing. Do you need to apply for a work-study job? Are there loan counseling or promissory note requirements to be completed? Take these additional actions right away.

Some costs will be due to your school and some will be paid by you throughout the year. Use a calendar to plan what is due, to whom and when.

Before you receive any money in your pocket, your school will apply your aid to your bill, including tuition and fees, housing and other eligible expenses.

If anything is left over once that bill is paid, it is given to you. These refunds can be used for things like books and supplies, toiletries, a mid-day coffee break or late-night snacks. Financial aid can help with a wide range of expenses during the academic year. It is important that you create a budget and stick to it to ensure you are not overspending your money and over-extending your resources. See the Budget module for assistance.

 

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