If a student doesnt use the full amount to which he/she is entitled each summer, can he/she carry the balance forward to the next summer?
For a students first summer of service, he/she is eligible to receive $1,000 in living stipend. If the student does service but receives less than $1,000, the balance is carried over to the following summer of service and added to the $1,000 the student is entitled to for the second summer. [For example, if a student receives $200 during the summer following his freshman year, he will have $1800 available during the summer following his sophomore year ($800 remaining from the first summer plus an additional $1,000 for the second summer). Any balance remaining after the second summer of service carries over to the next summer. If the student does service after his junior year (i.e., a third summer of service), he can receive that balance and, if he submits a proposal acceptable to the Foundation, an additional $500.
Related Questions
- If a student doesnt use the full amount to which he/she is entitled each summer, can he/she carry the balance forward to the next summer?
- What happens if a student does not use all of all of the PELL Grant in one year? Does it carry forward to the next?
- Can I change a Carry Forward Balance from the previous fiscal year?
