Do You Have To Pay Back Grants? (Usually No, But…)

You typically don't have to pay back grants you receive as financial aid for college. However, there are some exceptions.

With the rising cost of college education, students pay for school using a combination of scholarships, family contributions, grants, and loans.

When you’re applying for financial aid, every dollar helps you get closer to your goals. Whether you’re attending college for the first time or returning to complete your education, take advantage of the financial aid options that are readily available to you based on your situation.

But what happens if you drop out of college? Do you have to pay back grants and other financial aid?

The U.S. Department of Education awards about $120 billion every year to help millions of students pay for college. This federal student aid is awarded in the form of grants, work-study funds, and low-interest loans.