General Question

shysmile_hope's avatar

Are fafsa payments quarterly?

Asked by shysmile_hope (2points) October 31st, 2010

i just got approved for fafsa for schooling and the pell grant amount they gave me was $5,550,, im wondering if that is a quarterly amount or a yearly amount or just a total amount.

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2 Answers

jrpowell's avatar

They pay by term. Usually you get paid two weeks after class start. It isn’t a lump sum at the beginning.

jrpowell (40562points)“Great Answer” (1points) Flag as…
MyNewtBoobs's avatar

Term amount. The Pell grant comes right away and goes straight to the school. The federal loans are handed out 30 days after school starts.

MyNewtBoobs (19069points)“Great Answer” (0points) Flag as…

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