Financial Aid refunds (stipends) are meant to be used for school related expenses. A few examples of school related expenses are textbooks, internet usage, or a new computer. Financial aid is only available for students who are actively taking courses. As a result, withdrawing from a class can impact both your financial aid and refund. You may choose to save your refunds just in case something happens with your school finances in the future.
Keep in mind that refunds are caused by an excess of financial aid that may include student loans that need to be repaid after finishing school. You are also able to pay back any refund money to your loan lender.