Only for people that knows about fafsa or financial aid?

Question

fafsa just paid my tuiton , my classes and my books. but my question is.. do i have to pay back the money that the goverment borrowed me?

Answer 1

Well the first question i have is what kind of aid did you get?  Grants, loans, ect...  Grant money is yours to keep and spend on school related expenses which is pretty much everything, so if you have left over grant money you are in the clear as long as you graduate.  If it is a loan well you can still do what you want with it but you have to pay it back.  My guess is you got grants and scholarships so the money is pretty much yours now.  STAY IN SCHOOL AND GRADUATE!  

Answer 2

NOPE lucky for you fafsa is not a loan of any sort its financial aid which means that they are paying for it and you dont have to pay a dime

Answer 3

Financial aid encompasses both grants and loans given by your school. If they are 'loans' as the term implies..then you need to pay it back after you finish school.

Good Luck. P.S. you might want to take a look at a detailed printout of your financial aid award, it will become useful later to get familiar the process.

Answer 4

depends. if it was a grant then no. If you got a loan then yes.

Answer 5

if it's in loans, yes. You have to pay them back. You don't have to pay them back until either after you have graduated or have fallen below a part-time student status (otherwise dropout)and there's usually a 6 month grace period. You do not have to pay back grants or scholarships. To know exactly what kind of FA you are getting take a look at the paperwork you should have gotten after you applied for FAFSA or i bet you can request the paperwork from your schools FA office.

Answer 6

Depends, if you got a grant (PELL, CAL, etc) then it's free money. If you took out a loan (hopefully you paid attention to whether or not it was specified as a loan) then you'll have to pay it back later.

Answer 7

Whatever money you got from financial aid you do not have to pay back the only thing that you pay back its the student loans