The Federal Pell Grant regulations provide for an Administrative Cost Allowance (ACA) payment of $5 to schools for each student who receives a Pell Grant at that school for an award year. These funds may only be used to defray the costs of administering the Pell Grant, SEOG, Work-Study, or Perkins Loan programs. ACA payments are made directly to the school’s Federal bank account.
The second Pell Grant ACA payments for the 2015-2016 Award Year began on August 24, 2016. http://bit.ly/2brPG3K
The third and final ACA payments for the 2014-2015 Award Year also began August 24, 2016. http://bit.ly/2cjXswB
Schools have likely already received these payments and those which have not, will see these payments deposited directly into their bank accounts during the next few weeks. Please be sure to check your Federal bank account on a regular basis to confirm these deposits, and to then transfer the funds into your general bank account.