Fed Financial

Financial Aid?

I applied for financial aid and I would like to know if I should let the college that I'm attending handle my financial aid bills or should I receive the check and do it myself. Every1 i've talked 2 says that I should do it myself,because I could have money left over and the college might keep it.I'm clueless at this point please help.

Public Comments

1. Usually all financial aid (loans, grants, scholarships) go directly to the school. If there is money left over after the bills are all paid, you can request a refund from the school.
2. I've filed for Financial Aid in the past. Whatever they gave me went to the school and the leftoever went directly into my account which I made possible through my school. You should be able to set it up the same way. Hope that helps.
3. Normally, financial aid relating to the FAFSA goes directly to your school. All fees are subtracted from the amount, and the rest is sent to you in the form of a check, or directly deposited into your account if you request that. Normally, the remainder of the money isn't sent to you until a week or so after classes start. If you get a private loan, the loan paperwork will tell you if the funds are sent to you or the school. Normally, private loans cut a check to your personally, and you can use it for whatever related college expenses you have including a computer, lab fees, books, room and board and other personal expenses. Good luck!
4. Financial Aid is first dispersed to the college to pay tuition, fees, etc. What ever is left goes to you either via check from college or direct deposit. What ever is left the college can not withhold from you if they do, they are in big trouble!
5. There's some good advice in this thread. The people you talked too seemed to think you have a choice. As this thread shows, that is not the case. You don't "let" them handle it..they DO handle it. Talk to the financial aid office if you want more details. All Federal aid (grants, student loans, etc ) is handled by the school. A lot of private scholarships go through the school too. Once the school has applied your aid to your bill (tuition, fees, room and board if you are staying on campus) any thing left over should be available to you (if you need it).
6. All financial aid has to go to the school first to pay your institutional charges. Then if there is a credit balance the school is required to release the balance to you...they can't keep it since it's your money. Then you can use the refund check to pay for housing, books/supplies, etc.