Hi, is it usual to have a lot of excess financial aid money? Basically, my pell grants will total about $5000+ for 2010-2011 and I'm needing only to spend about $2000 or so of that on books that I buy online very cheap, food, some clothes, rent to my parents, and that's about it. That's leaves approximately about over a half of the money left over. You'd think after all your necessary spending there wouldn't be a whole lot left over. I'm worried that I'm getting too much money but to this is what my school felt was justified so I don't know.
Also, is excess pell grant money taxable and can I spend it on basically whatever I what (I know it would be wise to save it)?