2007-01-10 13:30:43 · 4 answers · asked by smartypantz49 1 in Education & Reference ➔ Financial Aid
No, pell grants are different from loans. You should be very happy that you qualified for one. A pell grant is considered free government money that does not have to be repaid; as for loans, even though they may not have to be paid back instantly, that money is considered "borrowed" and will have to be paid back plus interest.
2007-01-10 13:40:26 · answer #1 · answered by MM7 4 · 1⤊ 0⤋
A Federal Pell Grant, unlike a loan, does not have to be repaid. Generally, Pell Grants are awarded only to undergraduate students who have not earned a bachelor’s or professional degree. (A professional degree is usually obtained after a bachelor’s degree in a field such as medicine, law, or dentistry.) In some cases, you might receive a Pell Grant for attending a post-baccalaureate teacher certificate program.
Pell Grants are usually a foundation of financial aid, to which aid from other federal and nonfederal sources might be added.
2007-01-10 13:42:26 · answer #2 · answered by Ladybugtjc 2 · 2⤊ 0⤋
No - I had a Pell grant. You do not have to pay it back; that's why it's called a grant instead of a loan. Congratulations!
2007-01-10 13:35:34 · answer #3 · answered by wiscoteach 5 · 1⤊ 0⤋
grants are basically free handouts... Loans you must pay back!
2007-01-10 16:53:50 · answer #4 · answered by That Guy 5 · 0⤊ 0⤋