If you are a college student belonging to low-income group and are looking for financial help to afford the cost of higher education, you may qualify for Pell Grant. Pell Grant is financial aid for education provided by federal Government.
However, there are certain requirements that a student must meet in order to qualify for such grants. The process is to fill out the FAFSA application form either online or on paper.
Based on the personal and financial information that you provide on your application form, the financial aid officials will determine whether you qualify or not. In most cases, you do not get the money in hand. The money is directly transferred to the school or college where you are enrolled in a particular graduate degree course.
Your college will use this money to cover the course fee. However, if the course fee is less than the amount of the Pell Grant, the additional amount is refunded back to you. In most cases, the school or the college has an automated system that transfers the additional amount automatically to the student. But, in some cases, you may have to contact your college officials to get the Pell Grant refunds.
Therefore, it is always advisable to be aware of the policies your college follows regarding Pell Grant money. The following tips will help you get the refund in time without any hassle.
Give Them A Call
When you find that the amount of the Pell Grant exceeds your actual tuition cost, the first thing you should do is to give a call to the Bursar and financial aid office of your school and enquire about the same. In order to avoid any confusion, it is always advisable to ask for their policy about the refund.
In general, there are two ways to refund the extra amount. If your bank account is in your school record, they may deposit the money directly into your bank account. Alternatively, the school authority may mail the refund to your physical address.
When To Expect
The right time to expect the Pell Grant refunds is the beginning of the semester or quarter. At the time when the semester is about to start, the school officials review your application form and the money you have received as Pell Grant in order to see whether the amount is sufficient enough to fund the course.
You are eligible for a refund if the amount of Pell Grant is more than what you need to pay as course fee.
What If You Drop The Course
Sometimes, you may decide to drop a particular course and get enrolled in another course in another school. If you do this before the semester starts, you are eligible to get a full refund from the school. You can then use this money to pay the cost of the new course.
However, if you change your mind after the semester has already started, you will be able to receive only partial refund. It is entirely up to the school to decide how much they want to refund to you.