what happens to unused pell grant money 
generally your school will first apply the money from your pell grant and other aid such as loans toward your tuition fees and room and board if there s anything left over in your account after that often referred to as a credit balance the school is required to pay it to you within 14 days unless you ve authorized the school to apply it toward your future bills these federal funds are typically disbursed each school term or at least twice a year 515