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Do you have to pay back FAFSA money if not used for school?

Megan Page

in Student Loans

1 answer

1 answer

James Washington on July 12, 2018

If the student accepts what is called a stipend check (the amount ofexcess Stafford Loan of money sent to the student once collegeexpenses have been deducted), then it does not count as a part of thestudent loan. The students are responsible for paying the entirestudent loan plus the interest, if it is spent in educationalexpenses or not. It is wise to return stipend checks and decreasethe amount of student loans that you take.

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