Is Grant a free money or do I have to pay it back ?

Question

I guess I am just craying about the reality that I am facing but some schools just keep squeezing money out of your pocket so much.

I have B.S and I am done with my school since 2006 and I had enrolled in M.S program and I have gotten out of that because of Financial reasons.

NOW MY school is Mailing a letter to me from something called ACS services and telling me that there is a $5000.00 amount I had taken out in my 1st (FIRST) year of college in 2003. .... I need to pay that back ..and they sent me WHOLE bunch of letters with crazy information that doesn't make sense ..

Organization that I am paying the money to is ACS (ACS is a biling service which works for Massachusettes Commonwealth dept. ) so pretty much ... MASS governement hired ACS to collect money ....

They are saying that it wasn't a GRANT it was an interest free loan .... This really pisses me off (from year 2003 come onnn !! )

its not like i don't have other stafford, perkins and sallie mae :(

Answer 1

A grant is a gift.  A loan must be repaid.  Your situation depends on which one you had.

Answer 2

Some grants have stipulations attached that if they are not fufilled the grant must be repaid.  For example, in MS, many teaching grants are offered but require someone to teach in a low income school district for four years.  If this is not met, then the recipient must pay back the money.