I was just awarded the Pell Grant. I have two questions regarding the Pell Grant if someone could help me out?

Question

I returned to school last fall for the first time in 15 years. When I returned from school I found that I was on academic probation, because of my grades when I was last in school. I finally got off of academic probation and went into good standing. Then I was awarded my Pell. My first question is do you need a certain GPA each semester in order to keep your Pell Grant or do you just have to make sure you remain as "good standing?" And if that is the case what qualifies as good standing?

My second question is that I was told that out of the money I was awarded, first tuition comes out of it, then books, then I get to keep the remainder of the money. The pro of this is that I can go to the college bookstore, show them my ID, & get them for free right there. The con in this is that I can get books MUCH cheaper on eBay. Can I get my books on eBay and get just more money back, or if I do not buy these books on campus will I lose that money? Any feedback is greatly appreciated. Thanks.

Answer 1

You do not have to be in good academic standing for the pell grant. the pell grant is based on your economic standing. So even if you are doing bad the grant will still be there because you need the money. Buying books from the campus bookstores can be really expensive. Usually with the grant they pay for the neccessary things like tuition, room and board (if ur staying on campus), and school fees. The rest will be given as a refund check or deposited into an account if you wish. If you buy ur books online esp. on ebay there is the risk of waiting too long for the book or it not being like its supposed to. If you get them online make sure you order them ahead of time so you can  have then for class without delay.

Answer 2

Federal regulations are that a student must have a GPA of 2.0 or higher as well as complete 70% of the units that they attempt in order to recieve federal financial aid.  The individual school also has the right to make their policy more stringent than these codes.  Contact your school to see if they follow the federal regulations or if their policy is more stringent.

The Pell grant is for your educational expenses.  Once your tuition has been paid as long as their are no other school charges on your student account, such as books, the remainder of the grant is yours!

Answer 3

Every school that elects to participate in the federal financial aid program has to agree to establish and strictly enforce certain rules and regulations for the students who receive aid. One of these required rules and regulations is the "Satisfactory Academic Progress" rule.

Each school must establish a published standard for Satisfactory Academic Progress. That standard includes two components, a qualitative component and a quantitative component.

Qualitative refers to the grades you receive. At the very minimum, each school must require you to maintain a cumulative 2.0 average by the end of your second academic year. If you fall below a 2.0, you will be placed on academic and financial aid probation, and allowed either 1 semester or a 1 full year to get your GPA above 2.0. If you do not succeed in doing so, you must be placed on financial aid suspension, and you are not eligible for further aid until such time as you meet the Satisfactory Academic Progress requirements.

(your school IS allowed to make exceptions in the case of student illness or family death)

The quantitative component refers to the progress you are making towards your degree. You are only permitted a certain number of semesters to complete a degree - you must complete the degree program in no more than 150% of the time that is expected.

For example, if you are working on a bachelor's in sociology, and your school anticipates that the program can be completed in 4 years of full-time study, then the maximum completion time that would still allow you qualify for federal aid is 6 years. Note that you don't get to drop or withdraw from courses to avoid running up against the time deadlines - dropped and withdrawn courses count towards the determination of your academic progress.

As far as books - check with the financial aid office. Financial aid funds left in your student account after tuition has been paid will not be refunded to you until a few weeks into the semester. I know you'll want to get your books ahead of time, so that you can have them for the first day of class. This is the type of question that a financial aid office gets all the time, so they should be able to provide you with the best possible advice on how to address this issue.

But no - money that has been given to you in the form of financial aid is never lost if you don't spend it. The school is only entitled to the amount that covers your student bills. Any money that is left is your money to use for other educational expenses, and books are certainly one of the forms of eligible educational expenses.

I hope that helped!

Answer 4

I'm not sure but I think you just have to be in good standing.  Your schools financial aid website could probably tell you for sure.

At my university, if I don't use my grant to get books they direct deposit it to me.  That's usually about 2 weeks into the semester though so if I'm ordering books online I pay out of pocket so I have them on time.

Answer 5

First of all congrats on making it back to school. I know how difficult it can be to go back to college after a long hiatus. In regard to your first question, yes you do have to remain in good academic standings by maintaining the proper GPA, and completing the right amount of credit hours. You should check with your universities financial aid department for their satisfactory academic progress requirements which will tell you what you have to maintain to keep your Pell Grant.

As per your second question, the university will pull from your grant your tuition, then if you owe the bookstore anything they take it from your grant, then you get the remainder. If you don't owe the bookstore anything, then they don't take anything. eBay will be cheaper, but you run the risk of not getting your books on time.

I hope this has been helpful for you. Good luck on your college carrer.