Hi everyone. I live in INDIANA and am doing a BS in a STEM field (Engineering). I get the “Frank O’ Bannon” state grant per Indiana and the PELL GRANT.
If both my grants exceed my tuition cost by about $1,000, does that mean I will get a refund either by check or direct deposit? I go to a State University.
I heard somewhere online that ONLY FEDERAL gets refunded, meaning the Pell grant, (I’m assuming the O’ Bannon is an State Grant even though the website URL is .gov???, not sure) but which gets applied first? because neither the PELL grant nor the O’ Bannon cover my tuition for the Fall 2017 semester alone, only when combined do they exceed it and its only about $1,000 as I stated above.
Are you living on campus?
Your financial aid will FIRST be used to pay all billlable costs from your college…tuition, fees, room and board, and sometimes health insurance.
Once those are paid…if you have money left over, you would receive a refund from your college.
No I’m not on campus, I rent.
So there is no distinction between State Grants or Federal Loans as far as what is allowed to be refunded? i.e. federal loans can be refunded but NOT state grants?
And with the State Grant & Federal Pell grant, It paid my tuition and I will still have some funds left over,. that’s why I asked. But I will need those extra funds for books and school supplies.
Unless, they do not refund State grants or something but then that wouldn’t make sense to me because if they apply the State Grant to my tuition balance FIRST, then I would have PELL grant (federal government) money left over so the order of which is applied would matter…
Then again, I don’t know much about this.
The grants…all of them…will be applied to your BILL from the college. That bill will include tuition, and fees. If there is any money left, you will get a refund. You need to contact YOUR college to see when that happens. It is usually a few weeks into the term…so the schools KNOW for sure that you are attending, and full time.
Did you work this summer? You will likely need to use some of your summer earnings to cover your books as you will likely need those before your refund gets to you.
In your first post, you asked about federal GRANTS. Now you have added in loans. Did you also take out federal loans?
In any event…ALL money left after your billable costs are paid should be refunded to you…on your college’s timeline to do so.
Ok thank you.
I was taking a summer class and in the process of applying for engineering internships for fall. I don’t get that much extra AID at all so I have to usually put the books or school supplies on my credit cards It’s terrible, I know. My only hope is I land a good job before or near graduating or I’m going to be suicidal in debt 
I have taken out loans before, but I don’t get that much and have got pretty high on debt for one loan (because I switched majors).
I have about 30 credits left for my BS of engineering, and nearing the end of all my aid/loans I presume, so that’s why I’m just 100% dead on focused to pass my classes and finally be done. Switching my major set me back a few years in terms of credits, and even money/funds.
Wish me luck 
My D received excessive scholarships and grant since she lives off campus since last year. We just let the money stay in her account for a whole year until she just request the refund last month after she found out there will be excess money again for the next year. Otherwise, we would just leave it there for future charges.
You have to determine this with your finance office. My daughter has 8 or 9 grants/scholarships. The school’s merit money can only go to tuition. Other money from the school (in D’s case, athletic scholarship) can only go to things billed by the school - fees, room and board if you live/eat on campus. Bright Futures, which is a state grant, leaves it up to the school how to restrict the funds and D’s school restricts it to tuition so not refundable. There is a state resident’s grant and I’m not sure if that is restricted. State version of SEOG and the federal SEOG can be refunded. Pell can be refunded.
You also have to watch the order that they apply the grants to the bill. Last spring they applied daughter’s in a way that gave her more money as a refund, but this fall they did not so I’m going to call to see if they can change things around. This fall D even has more money in BF (it pays per credit and she’s taking more credits) and they increase the resident grant, but as it stands now she’s actually getting less. The school benefits as it gets to credit less of its own money and gets more from the state.