![]() Give it back to the lender - if you don’t need the extra money from the refund check, it’s smart to give it back to the lender.Save it for emergency expenses - you never know when you’ll need some extra money on hand.Pay for educational expenses not covered by financial aid, like books, supplies, or a laptop - these are things you’ll need for school, so it’s a good idea to use your refund check to pay for them.Save it in a high-yield savings account or invest it in a 529 college savings plan - this way, you’ll have the money when you need it and it will grow over time. ![]() Use it to pay off any outstanding debts you may have, like credit card bills or other loans - having a good financial start to your adult life is important!.Here are a few smart ways to spend your refund check: You don’t want to use it on unnecessary things and then find yourself in debt before you even graduate! This is why it’s important to spend your refund check wisely. You are borrowing this money from the government (or private lender) and will have to repay it with interest. The truth is, the refund check is part of your financial aid package. They think that the refund check they receive from their college or university is free money. There is a common misunderstanding among students. Refund Checks - Free Money or Extra Debt? In this article, you are going to learn which online schools give refund checks and laptops, and how to get them. The requirements are usually that you maintain a certain GPA and be enrolled in a certain number of credit hours. That money is technically yours, but it’s still part of your financial aid package, which means you’ll have to repay it eventually.Īs for laptops, some online schools are giving away laptops to new students. Once everything is paid for, if there is leftover money, you get a refund check from the school. The system works like this: you apply for financial aid, then, once approved, the school gets the amount in full and calculates how much you owe. That’s where refund checks come into play. But sometimes, the amount of aid you qualify for is more than you need to pay for your education. School is expensive, and many people rely on financial aid (usually student loans) to pay for it.
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