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Is it possible to decline Fafsa after the application has been processed? (Community College)

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I am an Engineering student going into my fourth year at a Community College to finish my pre-requisites. I applied for financial aid every year, including the next one, but now I do not want to take the risk of taking more than 2 years to finish after I transfer and not having aid. I was wondering if there is a way to decline the reward and pay for the classes myself for the upcoming year so that the pell grant award will not get exhausted. I can't really find much about this on this online and would appreciate some information. Thank you very much!

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