How can i spend my pell grant

Match Instantly. I am a: Student Parent of a student Parents: Complete the questions using your child's information. Please enter a valid zip code.

Every year, the U. The grant may be even higher for certain students who had a parent killed in the wars in Iraq or Afghanistan. Also be aware that the amount you receive can vary based on factors like your Expected Family Contribution, the cost of your school, whether you attend school full time or part time and any plans you have to attend school for a full academic year or less than that.

Pell Grants are also not available to incarcerated individuals. Since eligibility for Pell Grants is based on the Expected Family Contribution amount and not income, there is no specific income cutoff to consider. However, these grants are geared to students who experience exceptional financial need, so those from low-income families are most likely to qualify.

The cost of attendance is also factored in, which includes not only tuition but also room and board, books, supplies and even certain fees associated with study-abroad programs. This form helps schools and government bodies determine how much aid each student is eligible for. Generally speaking, your school will handle your Pell Grant funds, but you might also be paid directly.

In some cases, schools will combine these methods — most likely, the school will apply the funds to your tuition and fees and send you any money that is left.

Pell Grant funds can be used to cover tuition and fees for school, though you cannot use the funds to finance your education at more than one school at a time.

Outside of tuition and fees, however, you can use the funds for books, technology expenses, transportation and supplies. Money received through a Pell Grant is tax-free provided you use the funds for eligible educational expenses. However, the Internal Revenue Service IRS states that you have to keep track of Pell Grant money spent on incidental purchases room and board, optional equipment, etc. All you have to do to maintain your grant is fill out a FAFSA form every year you pursue an undergraduate degree, up to 12 school terms.

Yes, you can receive Pell Grant funds as a part-time student. However, you may receive a lower amount of aid than you would if you were to attend college on a full-time basis. Fortunately, there are a broad range of options when it comes to funding higher education, ranging from student loans , work-study programs, scholarships and other grants. If you hope to qualify and feel you may be eligible for this type of aid, filling out the FAFSA form before the deadline is the only way to find out.

However, a student could also blow the money on a huge party if he wanted to, though that would be inadvisable. While a student can ultimately spend the money the way he wants without having to answer to the government, rules do apply to his actually getting the money. For instance, the student has to attend classes to receive the money. If he applies and enrolls, but doesn't attend a single class, the money returns to the government, and the student is required to withdraw from the classes.

If he doesn't withdraw and still doesn't attend classes, the Pell Grant will not pay his balance. Your Expected Family Contribution , the amount the government determines you and your family can pay for college. As of the academic year, Pell Grant eligibility will be extended to those:. Pell Grant eligibility will also be simplified for the academic year. Always accept any grants and scholarships first before taking on federal loans.

Knowing how much aid you qualify for can help you decide where to attend college. You may also want to talk with the financial aid counselor at your intended school to help you estimate Pell amounts, as well as other aid you may qualify for. The funds from a Pell Grant generally are disbursed directly toward tuition, fees and, if applicable, room and board. Leftover money typically is paid directly to you. You can receive Pell Grants for only 12 semesters, or six years. Contact your college to find out how you'll get your Pell Grant aid.