Q: I just received the federal pell grant of $4,731, i havent gotten my check yet, school has already started, and i already paid for my books. How am i going to get reimbursed? and do I have to pay the grant back? Im really confused, on how everything works because its my first semester in college. PLEASE HELP, thank you
A: The Pell Grant amount you got will be divided by how many semesters your school year is (2 semesters is usual, some schools are on the quarter system so they have 3 terms each school year). So if you're on semesters, they will apply half of your $4731 to this semester and the other half spring semester. That would give you $2365 or so. After they deduct all your tuition and fees, if there is any Pell Grant amount remaining, your school will cut you a refund check for the difference. Usually after the end of the second week of the term. And no, you don't pay grant money back. Only loans require repayment.
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