<p>Yes, you can put the money into a savings account, and use it later if it turns out that you don’t need it this year.</p>
<p>Talk with the financial aid office, and find out whether or not you need to report any money that is left from that Pell that is still in your bank when it comes time to file the FAFSA. It is my understanding that left-over financial aid money is not included when you file the FAFSA, but I may be confused.</p>