Financial aid refunds give boost to area economy

Financial aid refunds give boost to area economy

January 11, 2013

By Pete Rosenbery

 

CARBONDALE, Ill. -- Southern Illinois University Carbondale this week is distributing $23.3 million in financial aid refunds, providing a significant boost to the region’s economy.

Two rounds of spring semester federal financial aid refunds are going to nearly 7,000 students.

Federal financial aid includes grants, loans and scholarships.  The University credits the money to the students’ accounts, first paying off charges such as tuition, fees, and on-campus room and board.  Students who have more financial aid than direct University charges receive a refund.  Students typically use the financial aid refund dollars for textbooks, off-campus rent and utilities and other education-related expenses.

SIU Carbondale strives to remain affordable and accessible for students.  Financial aid, in any of its various sources, bridges the gap between what students can afford and the cost of a University education.

In fiscal year 2011-2012, SIU Carbondale administered nearly $186.9 million in undergraduate financial aid and more than $104 million in graduate student financial aid.

The spring semester begins Monday, Jan. 14.