cross-posted from: https://lemmygrad.ml/post/11787784

I got some money from my college back when I was going to college in the form of financial aid (I think it was left over or something), but now that I am not going to college, am I allowed to use the money however I want?

If I do use it, will I have to pay them back because I am no longer going to college?

Edit: Also, how do I formally quit college? Is there a way to formally quit?

To add onto this, the financial aid came in the form of grants and scholarships.

Edit: I am stressing out over whether or not I need to pay taxes for the financial aid because if you use it for “incidental” purposes (not for education), then they must be reported on tax returns you file … but I have never filed taxes before.

  • Che's Motorcycle@lemmygrad.ml
    0·
    1 month ago

    I can’t give true legal or tax advice, but you should be fine. Wherever those funds came from, all the funder knows is that they gave it to the university. I’ve never heard of a university being required to report any refunded amount.

    So unless you search up and find specific provisions for the specific type of funds you received, you’re good. And for tax purposes, unless the refund plus your income for 2026 is over $12,400, you shouldn’t even owe any taxes. Hell, if you worked and your total income is less than $19,540, you would qualify for the Earned Income Credit (and that’s the threshold for single and no kids - it is higher if you’re married and/or have any kids).