How Does an Inheritance Affect a Pell Grant?
An inheritance affects the Pell grant as it can determine how much the student qualifies for after receiving an inheritance lump sum or disbursements. Include any inheritance money on a FAFSA application with information from an experienced financial aid officer of a university in this free video on education.
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Hi, my name is Brooke Kramer. I'm the financial aid officer with Argosy University in Salt Lake City and today we're going to talk about how inheritance effects the Pell grant. Now, if you do receive an inheritance, a year, a year prior to when you start school, you will have to list the inheritance money you received on to your free application for federal student aid, and the free application for federal student aid, also called the FAFSA is used to determine what you qualify for in Pell grant. So once you complete this application, we, your financial aid officer, will be told what you qualify for in Pell grant. Now if you receive that inheritance in disbursements, throughout a year, or if you get it in one lump sum will also again effect what you qualify in Pell grant because you have to reapply for student loans and federal aid every year. So if you receive it one year, you might not have to list it on another year just because you've already received it, you've already listed it on your FAFSA. If you have additional questions regarding Pell grant, you can visit our website at www.argosy.edu.