How will you get your financial aid?

At the beginning of each term, any federal or state financial aid you receive will go to your college first to pay for tuition, fees and room and board, if provided by your school. You’ll usually receive any remaining funds to cover your books, supplies, transportation and other college costs. Any scholarships or grants you applied for yourself may be sent to you or your college. For work-study or student employment programs, you’ll be paid after you’ve worked, usually every two weeks.

Colleges must apply any outside scholarships or grants toward your unmet financial need or reduce other aid—these awards can’t replace your EFC, or Expected Family Contribution. You can ask your school to reduce loan or student employment aid rather than grant aid, but most colleges have an established procedure for handling outside scholarships or grants.

It’s your responsibility to create a spending plan to make sure your financial aid lasts the whole term.