By: Shanice Miller, founder of DebtFreeCollegeGrad.com
After one of my last posts, I’ve been getting a lot of questions about college refund checks. One of the most common questions that I received was, “Can you really get refund checks back from the college? Is that really true?” The answer is yes.
What do you think happens when you get more money than it costs to attend college? It’s just like when you overpay a bill. Or like when you purchase something that costs $5 and you only have a $20 bill. The store does not get to keep the difference. You get the change back. The same applies when you go to college and get more money than what it costs to attend. You get the change back. With college, the “change” that you would get from that $20 bill is in the form of a refund check.
The college will give you refund checks when you get more money than what it costs to attend college. No, I don’t mean have your grandparents or parents make a bigger payment than what you need, of course that will work too, but that defeats the purpose. You get more money than what the college costs by winning scholarships.