How much money can I make and still get a Pell grant?

Do I need to report Pell Grant money received after the grant period?

• Last year I had some trouble with getting my 2010 taxes finished, so it was only in January that they were finally filed, and I could finalize my FAFSA application for this current 2011-2012 award year. I wasn't in a rush because I hadn't been able to get anything before. But this time I actually qualified for a Pell grant, which was awesome. $2,755 for the fall of 2011 and $2,755 for spring 2012. But since I've already paid for the fall semester, and paid some of the spring semester, I'm getting quite a bit of that money refunded back. I want to put that money in a savings account for future tuition (when I transfer schools and my tuition will be 5x more). But I'm trying to get this year's taxes and fafsa done, and I'm not quite sure whether I ought to be reporting the pell grant. It says right on the IRS website: "Pell Grants, Supplemental Educational Opportunity Grants, and Grants to States for State Student Incentives. These grants are nontaxable scholarships to the extent used for tuition and course-related expenses during the grant period." Which suggests that even if I do save the money for future tuition expenses, it's outside of the period the grant was awarded for, so it ought to be declared. But then again, I'm only receiving this money now, in 2012, not 2011. So does it even matter? Or does it still apply to the 2755 that was supposed to go towards the 2011 fall semester? You can understand my confusion. X-D I just want to be careful and not make a mistake that might hurt my application. Another pell grant next year would really go a long way with helping me to pay for the rest of school.

• Answer:

  you do not report your pell grant on your fafsa or on your income tax returns. don't make it harder than it is... LOL