Amount of financial aid received exceeds my cost of attending? Also, Pell Grant is higher than 5500?

Paying for College
1

I got the email from the financial aid office today saying that I had received financial aid. When I checked everything I’d gotten and calculated the stuff out, it seems like I would actually have $100 left over. Here are the grants (and scholarship) I’ve gotten (per year):

Pell Grant: 5725 (Is that even possible? I thought the max was 5500…)
Oklahoma Tuition Aid Grant: 1000
Academic Excellence Scholarship: 2000

I calculated how much tuition/fees would be for next semester and that comes out to be 4263.25. So, adding all the numbers together, I’m getting $4363/semester, when I only need to pay $4263/semester (I live at home, so no r/b). Will I just get the extra $100 or will they reduce one of the grants? Or are they just factoring in the extra $100 for like books or something?

Thank you!!

2

The Pell Grant has a new maximum amount for 2015-2016, so the figure you are seeing is correct. You will get to keep the extra $100 since your school has created an entire Cost of Attendance for you, which will include an amount for books. You will be able to use that extra money for school supplies.

3

@kgos16‌
Oh okay! That’s such a relief. Thank you! :slight_smile: