How is the financial aid from FAFSA disbursed?

Question

I applied for FAFSA and my family contribution was 00000 i already sign the award letter and it was processed on July 7th what is going to happen now?

Answer 1

Your school will take your tuition money out, and if you have any left over, they will send you a refund check.  They will split it in between the two semesters.  For example if you were awarded $4000.00 for your pell grant, they will give you $2000.00 for fall, and $2000.00 for the spring.  If you have student loans, the process works the same way.  They will usually not send you your excess money until at least a week after school begins (after the drop date).