Do I have to give the remaining money back on my student account?

Question:After my tuition and fees have been deducted, I still have money leftover on my student account (where colleges deduct the money) . Do I have to give this leftover money back to the grants/scholarship where I recieved it from? Or is this money mine to keep?

Answers:
Your financial aid awards are based on the COA (Cost of Attendance) of your school used in conjunction with your EFC (Expected Family Contribution). Most schools have in their COA tution/fees, room/board, books/supplies, and personal expenses (hygiene items (soap, shampoo, etc.), clothing, laundry, etc.) as items in their calcuation.

If your aid has already been applied to what you owe the school and you have gotten a refund check, then you can keep and use the remainder for what you will need during the semester .

You should talk to a financial aid officer at your school for more information/guidance. Good luck!
It should be yours to keep, just as long as everything is paid for the rest should go to you. That is why folks try their best to get as many scholarships and grants they can, so they can also pay for living expenses.

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