August 15, 2014
Financial aid refunds boost region’s economy
CARBONDALE, Ill. -- Southern Illinois University Carbondale this week distributed $18.6 million in financial aid refunds to students, providing a significant boost to the region’s economy.
A total of 6,058 students received refunds.
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 refunds for textbooks, off-campus rent and utilities and other education-related expenses.