Why do some people receive checks from college? I go to college online. They said they don't know anything.
Question:
Answer:
Some people receive refund checks from colleges because their award package (the amount of money they were rewarded) is larger than the amount needed for tuition, housing etc.
You probaly don't receive checks from your online school because your tuition is most likely paid out of pocket or a loan which equals the exact amount needed
the only check that I receive is my financial aid loan...
well, i get money from my school because my student loans are more than my tuition, so i get the balance. Because i have grants, scholarships, and an assistantship, the loan i take out is over and above my tuition cost - but the money still goes to my university first. then they issue me a check.
Those checks are financial aid refunds. Some students get financial aid a little over the amount that is charged to their account. This money is refunded to them so they can purchase their supplies.
Sometimes if you get grants and/or scholarship...there is actually money left over, a positive balance, on your account. In these instances, the college cuts you back a check made out in the difference.
Becasue their scholarship pays more than the cost of tuition or room & board or both.
It could be that you don't have enough financial aid to cover all your tuition and fees and still give you extra money, some students borrow just to recieve checks which is not a good idea if you don't need the money because you will just owe more back later.
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