A wise woman once said “Its that season, where people cut a check for no reason,”
Unlike the City Girls, however, it is not time to blow a bag.
A college student’s favorite time of year, after spring break, of course, is refund time! The time when your loans, scholarships, and grants dump hundreds of dollars in our bank accounts and expect us, broke college students, to spend it wisely. What many of us fail to realize is that we can use that money way more efficiently than buying AirPods or that cute Hydro Flask in the bookstore that we’ve wanted since the first day of classes.
For those who receive loan refunds, REMEMBER ITS A LOAN! If you receive a refund that didn’t go straight to the university, the money is yours to keep! However, the money is borrowed, and you’ll most likely have to start making payments on it six months out of college. So instead of balling out at the nearest Target, try and put it away in a separate, harder to access bank account and use that money to get ahead on your payments post-college!
For those who accept refunds from scholarships or grants can still save! Even though you don’t have to repay that money, you can still make good use of it! Try saving up for a car, so you don’t have to ask your roommate to take you to the grocery store or consider a study abroad and putting the funds aside for that!
Loans, scholarships, and grants are meant for students to invest in themselves and their education. Refunds are intended to help students, but don’t hurt yourself in the long run!