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The Financial Aid Disbursement Effect

How three college students are surviving the months.

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The Financial Aid Disbursement Effect
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There they sat:

Jaz, the shade of cool and former model.

Dee, the male Oprah of the group who’s always in high spirits.

Finally, Jasmine, the middle-class Paris Hilton of the three.

While I helped them review their English essays, I picked their brains about disbursement season. While all three of them are freshmen (and haven’t yet succumbed to the normal tired college student stereotype, such as myself), they have a unique perspective about disbursement season.

During disbursement season, every student who receives financial aid, is given a lump sum of cash. The cash is given after classes, books and other necessities are paid for.

A former model, Jaz made over $8,000 in one year by doing clothing commercials alone. Jaz now has no access to his funds as his parents have full control. Fortunately, he recently started a job at Publix and he’s now starting to learn fiscal responsibility.

By contrast, Dee saved his money for years before starting college. He performed odd jobs here and there, mostly at fast food restaurants. Like Jaz, Dee has no access to his earned money. In his teen years, his parent’s logic was, “we are allowing you to make money, therefore, it’s ours.” As jaded as this may sound, those are his parents’ exact words. He is now a struggling college student.

Dee goes on to explain that if his parents didn’t release his funds by the end of October, he would be screwed. Even as he explained this, he made sure his voice was in an upbeat tone.

I asked both Dee and Jaz if they would ever consider taking legal actions against their parents.

Dee stated that he was already in the process of suing and is hoping to use the knowledge he’s gaining from his law degree. Jaz insisted that his parents didn’t exactly have full control of his funds, therefore he didn’t feel the need to take any legal action. “Fuck that,” he goes on to say. He explains that his parents only want to ensure he won’t blow his money and make sure he doesn't depend on it.

As both of the guys shared their stories, Jasmine made subtle comments after every one. Jasmine has stated repeatedly that her grandfather is her savings account, therefore she didn’t have much to contribute to the conversation (this has never stopped an inquisitive person like me before). I asked Jasmine how she felt being surrounded by struggling students. She replied, “I feel bad." This response came as a shock to me. Jasmine went on to add, “Because I don’t have nothing to worry about, my granddaddy take care of me.” This response did NOT come as a surprise to me.

“He’s buying me a car as soon as I get my license.” There’s a term most native Jacksonvillians use called “Flauging;" it’s used when someone pretends to have something they don’t in order to seem appealing to their peers. Jasmine was definitely flauging. Like most students I was interviewing, Jasmine was receiving financial aid. Like ALL students on financial at the table, she just received her disbursement.

There is one aspect I’ve seen at one point or another (specifically FSCJ students) after they’ve received their refunds, they go through a process that I like to call “the old money effect." It’s used when students who’ve been struggling all year, finally receive their aid and act as if they didn’t need it; I’m guilty of doing this too (I have the $10 fake ear rings to prove it).

"If things were to get too tough, would any of you guys consider getting student loans?" I asked.

Dee: “Yes, I didn’t work my ass off just to be evicted now. Me being comfortable was the whole point of me working two jobs."

Jaz: “Nah I’m good. I’m not trying to have debt after college. I know my mom and dad would get me (have his back covered), but my mom would be hella pissed and probably kill me.”

Without missing a beat, Jasmine added: “No, because my grand-daddy is my savings. I don’t need to.”

Final question for the group: What will be your first purchase after you guys receive your aid?

The answers were almost anonymous: “This month’s rent."

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