Mt. San Antonio College in California has started doing this, and they have reached some interesting conclusions.
They are running a pilot program that allows students to use their Pell Grant surplus (after tuition and fees are covered) in the form of a weekly paycheck.
Rather than getting all of your Pell refund up front, you would receive it in weekly installments, just like a paycheck.
Their rationale behind this is that it would cause students to stay enrolled in school longer.
What do you think? Would you like to see this put into play on your campus?
You can read more about Pell Paychecks here.