Hi I am a undergraduate student in college. For my 2017-2018 year the disbursed amount federal pell grant was $5920. And the remaining balance to be paid in NSLDS shows (-$740).
Can anyone please tell me why it is a negative balance in remaining balance to be paid. Thanks
I am confused about the negative balance
What year are you in college…and how many terms have you already taken the Pell Grant?
How much were your direct charges and how much was paid? If payments exceeded the direct costs you may be eligible for a refund. Have you spoken to the financial aid office?
It’s my second year in college. And I got 4 semester of pell grant.
I talked to the financial aid office but they couldn’t find anything about the (-740). They informed no more payment needed. Does that mean I would have to pay the 740. Because usually the remaining balance to be paid is positive number.
Did you drop a class? For example did you enroll in 12 credits (full time Pell) in the semester and then drop a class and only took 9 credits ( 3/4 Pell)?
The Pell amount per semester is $2,960.
$740 is 1/4 of that. So maybe you had the above scenario and had an overpayment of $740 of Pell?
Is this a credit remaining that should be disbursed to you?
Yes. It is the credit remaining balance that needs to be paid. I just got the payment of how many credits I have taking
That must be your summer Pell, and you are taking 3-5 credits.
So there is
Award amount-7400
Disbursed amount- 5920
Remaining balance to be paid- (-740)
Are you taking summer classes? If so, how many credits?
11 credits
Can you also post how many credits you took in fall & how many you took in spring semester? And did you get any Pell paid to your account yet this summer?
So, actually I recently transferred to a new college and there I got $740 for summer because I am taking one 3 credit course. But I let them know I am getting aid from another college so I don’t want to get any aid for summer semester. The new college cancelled the $740. But now in my old college it is showing (-740) in nslds. I am taking 11 credits in my old college and 3 credit in new one
You can only receive federally funded aid at ONE school at a time…not two.
You are receiving aid at two schools according to this
no. I am paying for one college
Where are you currently a matriculated student? I believe that is the only place where you can receive and use a Pell Grant or any other financial aid for that matter.
Okay. So the college I am taking 11 credits, I am getting the aid. For the other one I am paying from my own pocket. But before letting the new college they gave 740 so I called to cancel. Now for my old my college I see (-740) balance to be paid.
You are looking in NSLDS, which I do not believe indicates which college the aid is for. I am guessing the -740 is due to the 2nd school manually cancelling your expected aid - this is correct, because you can’t get aid at two schools at once, but the school actually has to send a cancellation through. As long as the other school does not pay you the $740, you are fine. Did you receive the full $2,220 at your school for summer? That is what you should receive at 11 credits.