Financial aid money help?

Bethany Blocker: Yes, if you get any money back from your financial aid you are free to use it for whatever you want, but it is intended for you to spend on educational purposes.Do note, that the amounts may be disbursed for the whole year. For example:If your award totals up to $5,000. That's $2,500 for EACH semester....Show more

Angelyn Ducas: it depends on the form of the financial aid and the pay out of the financial aid. If you are referring to student loans; when you take out the 5,000, the amount for your term bill will be applied to your school balance and the difference will be allocated to you. With grants; a specific amount pays term bill and the difference is reabsorbed, meaning not given to you. With scholarships it gets a bit tricky. If for example you have a scholarship that is for 5,000 it will cancel out your grant and only your scholarship will be used. It depends on the school how the difference will be applied. If it is a private scholarship you ! may get the difference. Read the fine print. Anyways, I hope this helps. Congrats on your financial aid and good luck at your university....Show more