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What exactly is a pell grant?

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i received fafsa money for college, and now i received a pell grant..im confused, is this money to be used towards college..what is it exactly?

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  1. A Pell Grant is a government grant you applied for when you filled out the FAFSA. It's the best type of federal aid you can get, because it's money you don't have to pay back. It is to be used toward tuition, and you qualified because your Expected Family Contribution on FAFSA was below a certain cutoff (around $4000 I think).

    For more information on federal aid, try here:

    http://www.tuitionbids.com/student-loan-...


  2. It is basically fafsa money. It is a simple government education grant ranging from around $300 and topping out around $4000. The amount of the award is based on household income and it gets paid directly to the school. If there happens to be a difference in your favor after the school is paid you'll get to keep the balance. Since it is a grant it carries no obligation to pay it back or to do anything other than spend it.

  3. first, fafsa is the name of the application it stands for Free Application for Federal Student Aid.  There is no "Fafsa money".  When you apply for federal financial aid (using the fafsa) you are applying for grants (Pell), loans (Stafford, Perkins, PLUS, etc.) and Work Study.  

    The Pell you received is a result of you applying for what you call Fafsa money.  Yes, it is to be used for college.  Your Pell grant will be sent directly to the school to help pay your tuition, books, dorm, etc.  If there is money left over after all this is paid, the remainder will be given to you to pay for such things as gasoline, supplies, living expenses...

    This is a good book about financial aid.  

    DONT BORROW MONEY (Subsidized Stafford and Perkins loans) unless you absolutely have to.  In other words, if your Pell isn't going to cover the cost of your tuition.

  4. Basically it's money that you don't have to pay back that is used to pay for your college education.

    http://www.fafsa.ed.gov/index.htm
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