is it possible to get any balance carried over to the next year? I remember someone telling me that if you have over $550 you can carry forward to next year. But that person wasn't sure... can anyone else tell me something about it?

Only the money you've got in your Freedom account can be carried over. That's the account you use when you eat off-campus. You can check how much you've got on your meal card here.

Money on your Flex also carries over. Basically anything that isn't in your Basic Account.

Any on-campus money needs to be used this year. Your freedom account money, or off-campus money, can be used next year

Sadly, that's not true as others have mentionned. So make sure you finish your Basic account by April 29th (I believe)!