How to manage your financial aid

If you receive grants or scholarships, or have student loans, read these tips to learn how to manage the money you receive.

Track your financial aid to the calendar
You may receive some financial aid once per semester and other payments once a month. Remember that you have to make the money last! Be aware of when you will be receiving aid and in what amounts. This will help you to set up a spending plan and avoid running short of money.

Know what bills to expect
Think ahead about the bills you’ll be receiving next month and during the next year. When will you receive these, what will be the likely amounts, and how long will you have to pay? Compare this information with your financial aid calendar. Make sure you’re ready with the funds you’ll need to pay your bills. Late payments can harm your credit rating for several years.

Keep applying for aid
Continue applying for grants and scholarships. By being persistent, you’ll increase your chances of receiving this “free money” that you don’t need to repay.

Click the Next button for tips on repaying your student loans.