A friend of mine was going to college, and got financial aid checks. He got like one big check of about 1000 dollars, and then little checks about every month of about 100 dollars. He went to school for a few months, then quit, but contiued to cash the checks and use them for his own benefit.
How much trouble could he be in?
Will he have to pay it back immediately?
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If your friend gets a financial aid check, and he cashes it, and he is no longer in school, he has to return it. Otherwise, he could get charged with several felonies including robbery and forgery.
To be eligible for financial aid, one of the requirements is to:
“Be enrolled or accepted for enrollment as a regular student working toward a degree or certificate in an eligible program at a school that participates in the federal student aid programs.”
http://www.fafsa.ed.gov/faq003.htm
Since he is not a student, he is breaking the law.
Once you are convicted of a felony, you are not eligible to get into most career related degree programs, and most employers will not want to hire you. You also lose your right to vote.
Once the school notices that he is not enrolled of all if any of his classes, then at the end of the DROP, WITHDRAW, or the END OF THE SEMESTER, he then MUST pay the FULL amount back. If he does not, he won’t be able to get financial aid from any school.
careers.scienceontheweb.net – it has detailed info how to apply for financial aid and scholarships to get more cash.