Award Letter :Explained?

Paying for College
1

<p>Hey guys, I've posted here back about a month or so ago about getting Finaid. You guys were a huge help and I'm happy to say I got an award letter back! I'm just curious how this whole thing works. From what I'm told they're going to send me a check, now the letter says " Must be used for education expenses" How does that work? Out of the 2100 they're sending me, I can only spend how ever much the classes/books cost , then send the rest of the money back to them? Or how does it work?
Thanks in advance!</p>

<p>(below is the section of the award letter)</p>

<p>"
THE
PELL GRANT, SEOG, ACG, FEDERAL WORK STUDY, FEDERAL LOAN PROGRAMS, or
STATE GRANTS must be used for education expenses.</p>

<pre><code> Important note: You will not receive financial aid for classes added
after the census date.

    **NEW for 07-08 PELL GRANT will be disbursed in two payments of 50%
    each per semester.**

    BUDGET    $9,500
    EFC           $0
    NEED      $9,500

    Award                   Total       FALL    WIN/SPR

    BOGG C AWARD          $760.00    $380.00    $380.00
    Federal Pell Grant  $4,176.00  $2,088.00  $2,088.00
    Supplemental Educa    $200.00    $100.00    $100.00


    Award Total         $5,136.00  $2,568.00  $2,568.00

</code></pre>

<p>"</p>

2

<p>Your college should have a place on its website and this may also have been included in your award letter, with the costs of attendance for the year. Typically these include tuition, fees, room, board, books, travel to your home(this varies). There should be a cost of attendance for students living on campus and those living off campus. Financial aid usually can be used for anything included in the cost of attendance...any financial aid used for anything other than tuition is considered income for tax purposes. You cannot use finaid for recreational purposes or to do something like buy a car if you are living on campus.</p>

3

<p>ah, thank you.
But any idea how this works? I Mean if they give me a check , and I deposit it into my own bank account, they're not going to like sue me if i write a check to pay my carbill are they? How can they tell the differnece between my personal funds and the check?</p>

4

<p>The Federal Pell Grant can be use for anything, I would only receive the Federal Pell Grant and would use it for emergencies(savings).</p>

5

<p>Generally the financial aid money will be paid into the bursars account not direct to you. Any charges (tuition, fees, books etc) will be charged to the bursars account. If there is money left in the account after the charges you will be sent a check for the excess. If the charges exceed the money paid in then you will be sent a bill.</p>

6

<p>Ah, thanks for the replies guys!
@ the money being sent to the bursars, They've already told me that it will be in the form of a check sent to my mailing address, so It won't be sent to the bursars, I was just curious if they wanted me to send what I don't spend back to them. But my question is pretty much answered now, Thanks again everyone!</p>