College Tuition Grants Exceed Tuition Cost?

Question

I'm taking 15 credits at my local university and have just received my Awards Letter.

I get a $2100 Pell Grant & a $2000 SMART Grant

($4100 Per semester).

My balance for tuition is only $2600.

So that extra money won't be coming to me in the form of a check will it?

I know that with my Stafford Loan, the excess amount would come to me but that's a loan.

Wondering where that extra money goes?

Does it cycle back into the Federal Grant Programs so other kids can benefit from it or does it go into some bureaucrats fat pocket?

Answer 1

You should get a check for the extra money. Put it aside in a special account and pay it back upon graduation, you may have enough by the end to pay for your last semester in cash.