The federal government offers Pell grants of up to $5,645 to qualifying students for undergraduate expenses. Pell grants are paid directly to the schools, and for most students, that means it will go entirely to tuition or other fees charged by the school. However, if you do have extra grant money, your school will pay it out to you to use on other educational expenses.

Pell Grant Deposits

If you have extra Pell grant money, it will be paid to you by your college, but how you receive that money depends on your school. Some schools allow you to sign up to have it directly deposited into a bank account of your choice, but others may simply issue you a paper check.

About the Author

Mark Kennan is a writer based in the Kansas City area, specializing in personal finance and business topics. He has been writing since 2009 and has been published by "Quicken," "TurboTax," and "The Motley Fool."