I’m likely going to qualify for the full amount of pell grant money, and since i’ve got a very generous scholarship much of that will come back to me in a refund check. What i’m wondering is what am i allowed to spend it on? I was planning on using it to help with my insurance payments for the car im getting so i can drive to school, along with probably gas money and supplies, but i was wondering if im allowed to spend it on other things as well because ill still have quite a bit left over. Can I spend it on someone elses student expenses? My boyfriend is going to my same college and also will get the full amount of pell grant but not any decent scholarships so i was really hoping i could help out a bit.
It’s your money. Remember that you’ll owe taxes on the amounts over QEE so you’ll want to be prepared. If I were advising you, I’d advise you NOT to give the money away and that’s what you’ll be doing if you give it to your boyfriend. His Pell grant is for his education.
Keep your Pell money for your own expenses. If you don’t have something to buy this year, save it for next. You never know when your situation could change and you will need additional money yourself.
If you do save some of it, keep it in a separate account. Assets that come from financial aid aren’t required to be reported on fafsa but if you mingle finaid funds with other funds it’s harder to show how much is from finaid.
As noted above, it’s your money . . . so yes you can use it to help out your boyfriend if that’s what you want to do. Keep in mind that you may have to pay tax on scholarship/grant amounts that exceed tuition, fees, and books, so I’d also advise you to be conservative and hold something back in case you need it later . . . but good for you that you want to use some of what you’re getting to help someone else who wasn’t as fortunate as you! 
I will voice my disagreement here. Yes, it’s nice that you want to help someone who is less fortunate than you are. But it’s not like you are swimming in money yourself and this is a boyfriend…they come and go.
Help your boyfriend in some different way. I would NOT suggest just handing him the money. maybe you can buy some schools supplies for him, or one textbook. Invite him to join you for an occasional pizza…he probably doesn’t have discretionary spending money (and if he does, he doesn’t need your Pell money). But I would not suggest turning over your Pell money to him.
YOU may need that money in the future, and if his financial situation is that bad, it’s not like he is going to be able to help you out if need be.
If you spending on your boyfriends school expenses he will gave to list it on his Fafsa as monies paid by others on his behalf.
I agree with others that you will need the monies to pay taxes on the monies you have over the cost of tuition fees and books. I am also of the mindset that you don’t have to spend every dollar you have. The fact that you are getting full pell tells me that you/your parents don’t have a lot of money. There is nothing like saving for a rainy day
while it may seem “nice” to help out your BF, you need to protect yourself. You will have to pay taxes on your aid, even any aid given to someone else.
Plus, if you two were to break up and you needed that money, he’s not going to give you that money back. And, he sure isn’t going to help you pay the taxes owed. Even if you’re together, if he doesn’t have the money, he isn’t going to help you with the taxes.
Likely there will be unexpected expenses that will come up and if you give away your “extra money”, then you won’t have that to cover that unexpected expense. You need to save that money for taxes…and you can tell your BF that.
I think the problem is that you’ve shared the info about your aid with your BF and he has shared the info about his (less), and this has made you feel obligated to give him some of yours. While that may seem noble, it is putting yourself at risk.
Your BF can and should get a job to cover his expenses.
In the future, it’s not a good idea to share the info about how much money or aid you have or are being given…it just causes others to expect you to give to them.
Thank you everyone for your advice! He actually isn’t expecting that i give him any of the money and doesn’t know i was even considering it, i just wanted to make sure i could give him some if it was absolutely necessary (he is getting a job to pay for his own expenses anyway but just in case something happens)