Can I use federal financial aid to pay for living expenses?

Question

Like rent, and electric, internet... stuff like that???

how do they know what u are using it for?

Answer 1

If you are referring to something like a Pell Grant for school, then yes.........PROVIDED you have paid for your tuition and books first. As long as you keep your GPA up, you are entitled to use the extra money for anything that is needed to keep you in school.

Answer 2

Yes. Absolutely Yes.

When you get your award letter back. This will come to you a while after you have turned in the FAFSA. When you get your award letter, you will notice that it includes living expenses. As well as tuition, books, fees, etc...

What will happen is your school will get the financial aid. They will automatically take out tuition and fees. The rest they will give to you in a check (or direct deposit into your banking account). You use that money how you need to.

Tips: Prepare a budget ahead of time. Don't forget to put in your books (they often cost up to 300$). And pay bills three months at a time if your attending a 3 term school. Why? Because they'll give you a check every 3 months. If, when you get your check you pay off 3 months rent, put back 3 months food etc.. you will make sure you have paid bills. The rest you can use for fun! I do this and our landlord loves it. I've never had financial problems paying bills this way.

Of course, this all depends on how much money you recieve from financial aid. If you have a high EFC (how much money your family is supposed to pay) then you might not get a substantial amount of financial aid. If you are low-income and have a low (or zero) EFC then you don't have to worry, you'll have enough money for sure.

Answer 3

economic help (which consists of the two scholarships and loans) will evaluate residing costs. you do no longer probably elect between federal help and economic employer help. What you do is document a FAFSA type with the government, and that they're going to calculate how plenty economic choose you have. Then, you'll be eligible for federal loans, and your college (or different agencies) would furnish you different scholarships and/or loans. The federal loans are certainly nonetheless completed via lending institutions although.

Answer 4

Well, this is my experiences. Everyone below is right, FASFA does NOT know what you use the money for, but the send it directly to your college. The reason they do this, is because it's used to cover the amount of your schooling first and for most.

Now, after saying that, if you receive a grant for, let's say, 10,000, and your school only is going to cost you 6,500, then you will receive the extra 3,500 in a refund check, to use as you would like. Personally, i used mine to travel, but you could use it for whatever you would like. My classes go in quarters, so every quarter, i got alittle extra back. I hope that helps.!

Answer 5

Like a PELL grant type financial aid? Most of them send what is owed to the school directly to them. Whatever is sent to you is to help cover any other epenses you need.

Answer 6

yup thats what they are giving it to you for. but not to buy a car or anything that you dont need, only for living expense, but yea they dont know

Answer 7

They don't know, so you can use it for anything.

Answer 8

idk