Pell Grant Qualifications
Your FAFSA EFC

Your adjusted available income is then multiplied by a fractional rate- The higher the income, the higher the rate.

The result is your EFC.

These factors change each year, because they are adjusted based on changes in the Consumer Price Index. And, the changes have to be best guess estimates because the formulas need to be in place well before the school year starts.

There are different formulas depending on how a student is classified:

• dependent students
• independent students, without dependents other than a spouse
• independent students, with dependents other than a spouse

Even if your EFC turns out to be too high to qualify for a Pell grant, the Pell grant forms are also used as free grant applications for state and university aid, and optionally for a federal government student loan.

However, applying for a Pell grant is especially important if your income for your FAFSA year was high, but your circumstances have changed since then. Financial aid administrators do have the ability to make changes to the federal methodology formula so that you can qualify even if your EFC would be too high based on the official guidelines.

And Pell grants are sometimes given to students whose family incomes even exceed $60,000:

Qualifications for a Pell grant are more than just income guidelines. In order to receive a grant, the cost of attendance at a school must be higher than the expected family contribution. Also, Pell grant amounts depend on your:

1. expected family contribution- calculated from the information supplied on the Pell grant form
2. your cost of attendance- as estimated by the school
3. your enrollment status- full time, three-quarters time, half time, or below half time

But meeting all these conditions will not do you any good if your school has used up their allotted grant money by the time they get your application. Apply for the Pell grant online- There are added instructions, faqs and help features as well as edits that prevent mistakes from being entered on the form. And, your results will be sent more quickly to your school.

Once you receive your award, make sure that you are familiar with Pell grant requirements so that you can continue to receive financial aid every year. Your federal Pell grant eligibility may also extend to two awards in one school year. *NOTE: This program has ended.*

If you know that you qualify, find out what your award should be using the Pell grant calculator.

And make sure that the school you've picked out meets its' Pell grant qualifications, also. Check the list of FAFSA school codes to see the eligible schools where Pell grants may be used.

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