Can you spend fafsa money on anything

Apply online at fafsa. Ask for help at your school or local library if you need it. You can only spend college financial aid on expenses that are directly related to your education.

Such expenses include tuition and fees, transportation, books, room and board, supplies and related expenses like child care. Outside of serious financial aid fraud, which may involve other crimes like identity theft, most instances of misuse of financial aid go unpunished.

This means you can spend the money on anything, right? Not quite. You should still be careful with your money, especially funds obtained from student loans. Don't borrow more than you really need or else you will be paying for it later. Books, supplies and equipment related to your major. Miscellaneous personal supplies, including toiletries and medication.

Housing supplies, including linens, a microwave and dishes. Fees for professional testing, licensing and certificates. Entertainment, such as concert tickets and Netflix subscriptions. Pricey electronics, such as an oversized television or sound system. A down payment or repairs on a home or car. Other debt, such as personal loans, auto loans and credit cards. Generally, no one is tracking how you spend your student loan money. But, you could face consequences if your lender finds out you misused student loan funds.

The bigger deterrent to wasting borrowed money is that you have to pay it back — with interest. You may be better off getting a part-time job while in school, tapping your savings or building up some cash by working during school breaks.

This way you can pay for living expenses upfront without taking on more debt than you can afford. Find the latest. What can student loans be used for? Tuition and fees. Most schools have an online portal that allows students to easily monitor what they owe. Additionally, some schools will disburse your refund all at once, and others will split it up into multiple payments.

This will reduce the amount you need to pay back on your loan after school. You will have a little more leeway if your refund was from a grant or scholarship instead of a student loan since you will not need to pay that money back.

Still, exercising fiscal responsibility is important. Make sure you take care of any critical expenses before spending elsewhere. Updated August 20,