Financial Aid check from school

[Lisa_Loves_Disney]

I attend a community college in MA, and applied for financial aid and scholarships. I ended up with so much that I got a check for $1,446.44!!

I never thought it'd happen, I figured it would go towards next semester, or back to the source of the aid. And in my name? Even better, I was expecting my mother's name or something. But I'll get the same thing next semester too, just in time for my Disney trip! Just thought I'd share, I was so excited.

Have any of you ever gotten a financial aid check like this?

P.S. I really hope this doesn't start a war..I'm not trying to boast or cause anger in anyone. Just a happy girl sharing her excitement! A trip to disney is a better use for the money than some things I know my fellow class mates are using their checks for.

On another note, if you're going to comment, read this: I have a job with good hours and pay. I also have money saved for Disney. My ticket has been purchased, and I'm only contributing $250 for the Dolphin room, so a chunk of the check WILL be saved.

 

[love3monsters]

Nope. I am not sure that financial aid is meant for a trip to Disney.

 

[summerrluvv]

Yikes! I think this should be deleted or locked before the war begins!!

 

[Cindy B]

This is money that you will have to pay back. If you want a wise decision, take this check and cancel some or part of any loans that you owe right now, so you won't have a huge financial aid bill when you finish the first two years and continue on.

I remember the days when I could pay cash for community college course and dindn't have to take out loans. Is it really that expensive? I got my AS four years ago.

Yes, I have gotten check as well. One was over $5,000.00! I knew that I had to pay it back so I turned around to the financial aid office, cancelled the check, cancelled an entire loan and then some!

 

[DISdreamin']

Honestly, if you qualify for it, you qualify for it. How you spend it - or IF you spend it - is up to you. And for those thinking to complain about the $ going for a Disney vacation, I don't like it much either...

BUT...if the intent was that the money be used for books and/or living expenses (and that likely was what the money was for), and the OP is somehow paying those expenses our of her own pocket by working or whatever, how she chooses to spend the difference is really up to her.

There are a lot of people who use scholarship and/or student loan money on foolish things. I know *I* did when I was an undergrad! It's how we learn some really tough lessons about compound interest and loans.

 

[DISdreamin']

This is money that you will have to pay back. If you want a wise decision, take this check and cancel some or part of any loans that you owe right now, so you won't have a huge financial aid bill when you finish the first two years and continue on.

If that check is for a loan refund, I'd do as Cindy suggested and lower your loan amount. Otherwise, you'll be paying for your vacation on the 10-years-after-you-graduate plan.

 

[Lisa_Loves_Disney]

This is money that you will have to pay back. If you want a wise decision, take this check and cancel some or part of any loans that you owe right now, so you won't have a huge financial aid bill when you finish the first two years and continue on.

I remember the days when I could pay cash for community college course and dindn't have to take out loans. Is it really that expensive? I got my AS four years ago.

Yes, I have gotten check as well. One was over $5,000.00! I knew that I had to pay it back so I turned around to the financial aid office, cancelled the check, cancelled an entire loan and then some!

It's not any loans. It's a Pell grant, not sure if you're familiar with it. I asked as many questions as I had in my brain, and it's mine, forever. I won't have to pay it back. there are no loans what so ever invovled.

 

[CowboyCO]

Not necessarily would she have to pay it back. Every semester, I would get CASH (usually over $2,000) paid back to me after tuition and room & board was taken out of my financial aid package. It was for books and miscellaneous expenses. I had a few scholarships that weren't figured into the toal cost calculation and anything over what owed on the first day of the semester was refunded back to you.

During my last semester, I used part of my student loan to pay for my DW's engagement ring and then got a part time job to make up the difference.

 

[Lisa_Loves_Disney]

Honestly, if you qualify for it, you qualify for it. How you spend it - or IF you spend it - is up to you. And for those thinking to complain about the $ going for a Disney vacation, I don't like it much either...

BUT...if the intent was that the money be used for books and/or living expenses (and that likely was what the money was for), and the OP is somehow paying those expenses our of her own pocket by working or whatever, how she chooses to spend the difference is really up to her.

There are a lot of people who use scholarship and/or student loan money on foolish things. I know *I* did when I was an undergrad! It's how we learn some really tough lessons about compound interest and loans.

I already bought the books, the money for them was taken out before. If I hadn't bought them, the check would have been for $2000. And don't get me wrong everyone, I'm helping my mom out with oil and electricity, I pay my own car insurance, I pay a $70 cell phone bill every month, I pay for gas, it's a treat for myself. And no loans, once again.

 

[Cindy B]

It's not any loans. It's a Pell grant, not sure if you're familiar with it. I asked as many questions as I had in my brain, and it's mine, forever. I won't have to pay it back. there are no loans what so ever invovled.

I have had Pell. In my area it is for low income students who had low EIFC scores. True it is "free" money, but that turns into almost the -fur coats BWM driving ladies who buy steak and king crabs legs with food stamps debate.

I took my Pell money and applied it to other expenses I had without the Pell. Granted I was an adult student with a mortgage, two children and other things that my family needed to live on. I commuted an hour each way when gas was $4 a gallon. --so it went to gas, feeding my family and paying my mortgage.

 

[tasha99]

Financial aid is based on your living expenses as well. My check was almost $7000 for this term, all loans (though I did get a tuition waver as well). Go to Disney if you want and can afford it, but understand that if you have an emergency later, they won't give you more money.

 

[Princess April]

 

[poohfriend]

the money is meant to help off-set the expense of your education. This makes it easier for you to continue to get the education you need/want. Good for you that you're going to college. Keep it up.

technically, the money still goes toward college. You're just lucky enough to have already paid the bill this semester. LOTS of people have it on a credit card so when the grant check comes, it pays off the bill.

Anyone on the Disboards understands Disney! Enjoy your trip...but remember, the grant went toward college and your own money from working went toward the trip. You would not have gotten the grant if you weren't enrolled in college. And if you dropped out/ didn't complete the semester, you could technically be asked to give it back!

 

[Kellydelly]

Plenty of people use financial aid, grants, and scholarship awards to pay their mortgage, car payments, or go on vacation . I am not sure I would advertise that to this crowd, though .

 

[Tweevil]

Wow...

I didn't qualify for grants because I made too much money in the eyes of the program. Single mom, working my tush off - maybe enough to squeek a budget vaca every year - I didn't qualify.

Be wise with it, I am still paying for my degree and that makes it even harder post-degree - I know I could have used it at the time for every day items - like food.

Weigh your options carefully - you were just given what some on here were denied. Be wise in your decision.

 

[Teacher03]

OP, have fun in Disney. I was going to respond angrily, not at you, but at the fact that the way financial aid is decided is so misguided. But anytime someone gets to have fun in Disney is a good day.

 

[Lisa_Loves_Disney]

OP, have fun in Disney. I was going to respond angrily, not at you, but at the fact that the way financial aid is decided is so misguided. But anytime someone gets to have fun in Disney is a good day.

Thank you very much. I appreciate it. I do understand everyone's points, and everyone is entitiled to their own opinion.

 

[msmayor]

OP, have fun in Disney. I was going to respond angrily, not at you, but at the fact that the way financial aid is decided is so misguided. But anytime someone gets to have fun in Disney is a good day.

It really all has to do with the official Cost of Attendance that a school is required to submit as the benchmark for determining the Estimated Family Contribution and used in the financial aid formulas.

The total Cost of Attendance includes average costs for books and miscellaneous expenses as well as transportation costs to and from the school.

The college my daughter attends has a Cost of Attendance that exceeds the billed cost of tuition, room and board by nearly $5,000. That's because of the housing variables as well as a higher-than-average transportation cost (her school draws students from all 50 states and 90 countries, and most every student lives on-campus....VERY few commuters, if any). All of her aid and scholarship money is based off the high amount, and whatever excess remains in her account after the school's 'official' bills are paid is sent to us...again to use for books, transportation, etc. as we see fit.

It may seem unfair to some that there are students who end up with this "free" money, but the reality is that the student financial aid formulas and methodology of determining who gets what is probably one of the fairest things out there. There is VERY little wiggle room or exceptions made in who gets what with respect to Federal Aid, and very basic financial information used to determine what your ability to pay is. I've read on the college board I frequent how many folks want the schools they are looking at to consider the significant debt they are in, both mortgage and consumer, or they cry that Mom and Dad don't want to contribute so they need more aid. It doesn't work...the formulas are cut and dried and standard for all.

 

[disney1990]

I attend a community college in MA, and applied for financial aid and scholarships. I ended up with so much that I got a check for $1,446.44!!

I never thought it'd happen, I figured it would go towards next semester, or back to the source of the aid. And in my name? Even better, I was expecting my mother's name or something. But I'll get the same thing next semester too, just in time for my Disney trip! Just thought I'd share, I was so excited.

Have any of you ever gotten a financial aid check like this?

P.S. I really hope this doesn't start a war..I'm not trying to boast or cause anger in anyone. Just a happy girl sharing her excitement! A trip to disney is a better use for the money than some things I know my fellow class mates are using their checks for.

I guess this depends on the student. My daughter received a financial aid check for about $5,000. But she lives off campus. This money is supposed to be paying for her books, room and board (she shares a house and buys her own groceries). Room and board are often figured into how much financial aid you receive, because you have other expenses that just tuition.

 

[funkychunkymonkey]

I did that once when I was in college. I used my grant money to go to Washigiton Dc. Ok, It was a learning related, I talked to police in the area and even went to a forensic science related meuseum.