1) Does leftover Pell Grant money have to repaid in any form? At the CC I currently attend they deposit the money directly into a bank account of your choice; after the fall and spring semesters the money was intended to cover I had about half of it left over.
2) Is Pell Grant money considered income so I would have to report the leftovers on the financial aid form for my 2nd year? I ask this because it seems odd to me that you could have leftover grant money and the next financial aid form you fill out wouldn't consider it in its evaluation.
3) Can I use this leftover money to my liking and if so could it be taxable?
I understand it's not uncommon for students to have a significant amount of Pell Grant money leftover after tuition is covered, but I still feel uneasy about it and would greatly appreciate answers. Thanks.