I received a Pell Grant for College. After fees are paid what is done with the rest of the money?

Question

I just got a letter saying that I was awarded a Pell Grant. According to the paper I got:

Fall Semester 2008

Federal Pell Grant - $2,366

Student Assistance Grant - $900

Spring Semester 2008

Federal Pell Grant - $2,365

Student Assistance Grant - $900

I have already picked my classes, and the total fee (excluding books) is $1069, but what happens with the rest of the money? And what is a Student Assistant Grant?

This is my first year attending college, so I just want to make sure I know whats going on. My friend told me they give you a check of the leftover money to use for school, but do you eventually have to pay that back?

Answer 1

books, gas, food.

Answer 2

You will get a refund. Usually colleges will direct deposit it into a checkings or savings account of yours (so you will need to give them that information) because it's safer than a check. You do not have to pay any of it back and can do whatever you want with the leftover money.

A Student Assistant Grant is just another grant (aka: free money).