What is supposed to happen to the leftover Pell Grant money at the end of the school year?

) February 22nd, 2010

I was awarded a Pell Grant up to $5000 for the 2009 – 2010 school year. I have received about $1000 total for the last two terms. I got half time and half the $1,400 last term and and only less than quarter time this term. I thought that the money that’s not used gets pushed back every term until the end of the school year. Not what financial aid told is happening, which is that “the money I don’t use gets distributed to other students”. I have NO CLUE what that means and I’m really frustrated. I feel like I have to go full time because I don’t want to waste the money.
I can’t take any classes until the fall because I’m waiting to get into a pharmacy tech program. I’ve spent almost a year working on this and I’m really not sure that everything is right. I know this is specific, but I really want the best answer. Thank you.

financial aid

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3 Answers

They are right. What they give you in your award letter is assuming you go full-time. If you go half-time you get less. The money doesn’t roll over.

jrpowell (40562

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That $5000 is the max grant awarded for full-time students (yay, Obama!). If you go less than full-time, you get less of the grant. So, unfortunately, you’ve gotten all of the grant you’re due for the school year and there won’t be any more money until next term (and like JP said, it won’t roll over). In your case, they took the remainder and gave it to other students.

MissAnthrope (21511

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I go half time, and my Pell Grant pays for all my schooling, books and I also get a check of the rest of the amount. But, it’s only a percentage of the total amount, which is given to me on my college’s website. If you aren’t using it, then you aren’t wasting it…I actually didn’t know it went to other students. I find that interesting. I wonder how they determine that, maybe by keeping the rest of the percentage.

casheroo (18116

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