What should I spend it on? It will be after school starts, & I will already have all my books & everything. I think I might get about $8,000 or less back, & I really need the money, but I don't know what to use it for. I would like to buy a used car for transportation to & from school, but someone told me I couldn't use it for that. The bus transportation system SUCKS here in Denton, TX! It's very ridiculous. It takes me 2 1/2 hrs. to get some place by bus that takes 5-10 minutes by car. Or do you think it would be easier if I take a cab every day? I estimated that would be like $320/month. I don't know...but the bus would be free, but it's dangerous to be taking the bus during dusk before 6 PM in order to get to a required 8 AM class. But @ the same time, you can't rely on a taxi to be there when you want it to. So I guess I'm better off with a car. Financial Aid doesn't ask you what you did with your money anyway. What else should I do with any leftover money?
2007-05-22 13:16:14 · 5 answers · asked by Anonymous in Education & Reference ➔ Financial Aid
It sounds as if you really need a car. That would be better and safer than a car or bus. Remember to save enough out to pay the insurance and gas.
You probably will save money by being able to go to cheaper places and buying your groceries in bulk (which is hard to do in a cab or bus) so I think a car would be a good investment.
And just think, if you want an ice cream cone in the middle of the night,, you can just hop in your car and go. LOL ---I do that sometime.
2007-05-22 13:26:18 · answer #1 · answered by Patti C 7 · 3⤊ 0⤋
You can pay back ur loan with any money u have. savings, ur mom, bank robbery, dirty money (j/k of course). They don't care how they get it or when. My question is, why would u? for example (these r random numbers) Let's say ur finaid refund (less tuition, books, room and board etc.) is $15,000. And you take out a $1,000 loan. You pay back that $1,000 using ur finaid refund, u still have the $1,500 u started with. Now if u r wanting to build/establish credit, this is not the way to do it. the longer something stays on ur credit report in good standing the better it looks for u. The best way to help credit (is thats what ur wanting idk) is to save ur finaid refund, and when u get the bill, do not pay minimum due, but pay what u actually owe that month. (there r usually 3 amounts on each bill. total amount of bill with interest accrued to date, your minimum ballance (this is what is required to keep u from defaulting<<
2016-05-20 05:13:17
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answer #2
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answered by ? 3
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I don't see why you can't use the money to buy the car. Your friend may not know what he/she is talking about. A car would be a good investment. With my first financial aid check I bought a decent used vehicle. I say go for it.
2007-05-22 16:20:42 · answer #3 · answered by Anonymous · 1⤊ 0⤋
You could save it for next semester and reduce the amount of student loans that you need.
2007-05-22 14:14:18 · answer #4 · answered by Heeheheehee 2 · 3⤊ 1⤋
You can do whatever you want with the money. It's all yours!
2007-05-22 15:52:59 · answer #5 · answered by Ginger O 2 · 5⤊ 0⤋