With FAFSA errors and rising education costs, the return of unused financial aid may be a welcome relief to students.
Many students use their federal financial aid to enroll in meal plans at their universities. Traditionally, any unused money from those plans gets returned to the college. However, a new Education Department proposal would require colleges to pay out that money to students instead. Student meal plans typically consist of "flex" accounts that students can use at dining halls and campus grocery stores.
The price tag of a college education is too much for many incoming students. About 42% of prospective students didn’t feel confident that the school of their choice was affordable, according to a Niche study. Some students aren’t applying to the schools of their choice due to a high sticker price — 83% of students in Niche’s study chose not to apply or even consider certain schools due to the high cost.
Have a finance-related question, but don't know who to ask? Email The Credible Money Expert at [email protected] and your question might be answered by Credible in our Money Expert column.
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