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Dropping out of college may result in a Pell Grant repayment. A Pell Grant is a federal financial aid award that provides funds to help students pay the cost of attending college. Along with scholarships, grants are the best type of financial aid because they do not have to be repaid when used to pay college expenses. However, if you drop out of college, you may have to repay a portion of your Pell Grant award. Dropping out of college has financial consequences. Most colleges will refund a portion of your tuition, depending on how early in the semester you withdraw.
First Disbursements for Pell Grants will be 50% of a full-time Pell Grant. Second Disbursements for Pell Grants-Your eligibility for Pell Grant (if applicable) will be RECALCULATED before the second disbursement for each semester.Your second payment of Pell Grant will be based on your enrollment status as of October 20,2014.he first payment is the equivalent of a half-time payment. The first payment of Cal Grant and Pell Grant will be made as long as a student is enrolled in at least six units. If you receive your first check and then drop do below six units, you will have been overpaid and will be billed for the overpayment.