Stretching Your Financial Aid
College can be a huge expense. Luckily, Purdue Promise provides its students with scholarship funding that will cover up to the total estimated cost of attendance at Purdue. Depending upon the other types of aid you received, such as pell grants, work-study, or other scholarships, your Purdue Promise funding may change year to year. Making smart choices about housing and meal plans can help stretch your financial aid dollars so you are able to cover expenses that may pop up outside of tuition, fees, and housing. These expenses can be covered with excess aid money you receive in the form of a refund check.
What is a refund check?
If students take advantage of all aid offered, they may have a moderate amount of aid in excess of what is owed to the university to help provide money for off campus housing, books, supplies, or other indirect educational expenses. If the amount of the total aid accepted does not cover the tuition and fees due, the student is responsible for paying the balance due (shown on the electronic fee invoice).
For more information about financial aid refunds click here.
While books are budgeted into the estimated cost of attendance, Purdue Promise does not provide funding to cover the cost of books up front. Students typically purchase textbooks after they have received their refund checks or purchase them up front with money they have saved and treat their refund check as a reimbursment. Choosing lower cost housing and meal plan options will increase your chance of receiving a refund after you have been billed so you can cover the cost of text books.
Students also have the option of taking out an emergency loan of up to $400 for 30 days interest-free through the Office of the Dean of students (ODOS). For more information about emergency loans click here.
Program Recommended Residence Halls
Choosing a lower priced residence hall can help reduce total costs, leaving you more money for extra expences. Based on the 2013-2014 room rates, we will be recommending that students select from certain residence halls to ensure they are making smart decisions.
Program Recommended Meal Plans
Being smart and realistic about the type of meal plan you choose can also increase your chance of receiving a refund check. College students usually operate on a much different schedule than the rest of the world, so you may find that you don't eat at the same times or as frequently as you did when you were in high school. Based on the 2013-2014 meal plan rates, we will be recommending that students select from certain plans to ensure they are stretching their financial aid dollars.