FAFSA is a federal tax form. That means, if a grant is given, it has to be repaid, no matter how much it is.
A student would not have to repay grant money when they leave college – but, if they don’t, it will be taxed at 15%. So, if a student spends $5000 on tuition, they will have to repay $5000, regardless of how much they spend over the rest of their education.
The amount of money a student would owe in tuition taxes is called an “annual benefit”.
Can I withdraw my grant immediately when I graduate?
Students cannot repay their grants, regardless how much they spent during their first year of study.
That said, if a student spends more than the amount given, they can apply to the federal government for a grant refund.
To do so, students must go to the Department of Human Services website, call 2123, or write to the Department of Human Services at 1201 N LaBelle Pkwy, Dallas, TX 75202.
In the latest twist in the controversy surrounding the federal government’s investigation into the leak of documents that showed a controversial $14-billion project to extend the life of the nation’s aging electricity transmission network, the Ontario auditor general on Thursday revealed he’s asked his staff to consider bringing civil or criminal charges over the leak.
Auditor general Bonnie Lysyk was set to speak at a University of Toronto presentation on May 29 on the leaked documents, “Project Bipole II, a proposed $14-billion electrification project that would connect Ontario’s transmission grid to the western Canada power networks that deliver electricity to customers in the United States — particularly to California and Michigan.”
After speaking about an audit of the project, he then left the room. When he returned, he saw the auditor-general’s deputy director, Richard Knecht, walk directly in front of him and “chuck my hand off the chair to shake it,” Mr. Lysyk said, according to an interview.
During a conference call, Mr. Knecht said he was “quite startled and disappointed” and “really, really sorry” about what would have happened if he’d been sitting in the office with Mr. Lysyk and had seen the exchange that followed.
According to Mr. Knecht, Ms. Lysyk called him at home to say he had a problem. He immediately called his wife, who was in the office
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