Does anyone know what happens with money left over from a federal grant for school?
Asked by
deni (
23141
)
September 3rd, 2009
OK, so I got a federal PELL grant for school this year. So it’s broken up into two semesters and it says the amount you get under each semester. So, if say, I got $5000 for a semester, and I spent $4500, what happens to that other $500? Nothing? Or do I get it back? Or does it roll over to next semester? I am guessing it doesnt….
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8 Answers
In my experience, you will receive a check for the left over amount.
Here is how it worked for me.
1. Apply for financial aid.
2. Receive a letter stating what they will give me.
3. Classes start.
4. Two weeks pass (the point where you cannot change your classes)
5. Get a check for your aid minus your tuition and what you charged at the bookstore.
6. A few weeks later you get a check for your loans if you took out any.
This is at least how it worked at the schools I went to in Oregon. It could vary.
A word of advice. It can be temping to go on a shopping spree when you get a check. Remember that money has to last you for a long time. I bought a iMac with my first check. Towards the end I was really good at cooking Top Ramen.
Martinis for board of education members.
My experience is exactly as @johnpowell.‘s I use my student ID almost as a debit card, then receive the difference in the mail about two weeks later.
@johnpowell
they still use checks in the US? how backwards
At my school, you get an amount sent to you, which includes the remainder of the Pell Grant as well as any loans.
I got the remainder in a check after I paid for tuition and books, etc. That was in Florida, but since Pell grants are federal, I would think it’s the same everywhere.
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