<p>colorpurple -- definitely cancel or pay off any loans you may have -- that is the best place to start with any "extra" money. After that, look ahead at expenses coming up. Do you have an adequate computer that can be used for the next several years of college? (you don't need a big, fancy computer -- but a decent one with the basic software you will be using). What about summer? Will you be taking summer classes? It is a great way to get ahead and get out of school sooner -- but most schools do not give any financial aid for summer school. Only loans. you could also pay your rent ahead.</p>
<p>just a few suggestions -- use the money wisely and you will feel comfortable with what you did with it. Anything you use the money for that will help you complete your degree is an educational expense.</p>