With spring break swiftly approaching, thousands of students alike are greatly
anticipating the first disbursement of student refund checks for 2013.
The checks, which have begun to arrive at students’ doorsteps, have many on edge
waiting for what some would refer to as “extra cash.”
As the countdown begins, many of those expecting returns have already planned out how
they intend to spend the cash.
However, what many have failed to realize is that the “extra cash” is far from such.
Often provided through a combination of financial aid and student loans, the cash surplus
typically has to be repaid at a later date, along with the other financial supplements.
Yet with that in mind, far too many students find ways to spend the money frivolously, as
opposed to saving it or putting it back towards loans.
It seems that most recipients rather invest in themselves, purchasing a number of lavish
items they couldn’t otherwise afford.
I remember last year around this time, one of the main things I kept hearing about were
students purchasing cars. It was as if everyone around me who’d received a refund was
getting a vehicle, and for a moment there I felt left out.
But after inquiring about the amount of what these soon to be car owners were receiving,
it took me by surprise.
I found that some students were receiving up to $6,000 in refunds from just one semester!
This is a lot, considering how expensive tuition and other school-related costs can be.
Despite the costs associated with attending school, the fact that cars were one of the first
things that came to mind was extremely baffling to me.
Of course anytime you receive a bulk of money, be it expected or not, it’s only natural
that one would consider treating themselves.
But if treating yourselves now comes at the cost of financially struggling later, it’s
something that should be immediately reconsidered.
I never understood how students blew their entire refund checks on materialistic things
like clothing and shoes. To pay off your bills with it is one thing, but revamping your
wardrobe is something completely different.
Of course everyone’s grown and entitled to spend how they’d like — I just feel that
student refund checks can be spent a lot smarter than how they are currently.
For one if you know the money is part of a loan, one of, if not the first thing that should
come to mind is repaying it. Making payments toward your loans not only saves you
time, but will eventually save you money.
If early payments aren’t appealing, try investing it. Invest in a business or some sort of
venture that you know is going to bring your more money not less.
Lastly, if you can’t think of anything worthwhile, be smart and save it. Yeah the money
comes in handy now, but it can be used towards something greater later on down the line.
For instance, I met a student finishing up her last few weeks at Buffalo State. She said her
plans were to go to the Dominican Republic, where she would visit her family and look
for a job.
I asked how she could afford to do such a thing, being that she had no job and limited
funds. She told me she been saving all her money from student refund checks, which
would carry her over until she got on her feet.
I was impressed knowing that she’d saved up four years of “extra cash”. Although it
wasn’t easy, she was now vested and off to a better start.
After ending our conversation and parting ways, there was only one thing that kept
running through my mind.
I couldn’t help but imagine what would be the case if only more students thought like
her.
Ebony Linzy can be reached by email at linzy.record@live.com.