Financial aid consists of loans, scholarships, and grants that help cover the cost of college. Depending how much you need to pay for books, tuition, and housing, you may have some money leftover in your bursar’s account.

What should you do with unused financial aid money? Should you spend it or save it for the future? More importantly, can you return it if you don’t need or want it?

Let’s dive deeper into the pros and cons of unused financial aid money and whether or not returning it is the right move to make.