Formula for Pell Grant eligibility

[skybirds]

I see ones eligibility is dependent on how much
you earned based on a previous years tax return and
present assets. Is there a formula that I can crunch
numbersd into to see how much I might get for the
Pell and FSOEG. Sounds like doing a tax return.

[cookderosa]

I see ones eligibility is dependent on how much
you earned based on a previous years tax return and
present assets. Is there a formula that I can crunch
numbersd into to see how much I might get for the
Pell and FSOEG. Sounds like doing a tax return.

I never did find one, but seriously, the FASFA takes about 10 minutes to do and your EFC will be told to you when it's over. Essentially, a lower EFC means you'll earn a pell. I don't know the cut off (mine was zero).

[surferD]

Thanks for the info Jennifer, but could you please explain what the acronyms you are using mean? Thanks.

[caidan]

Hi,
I'm not Jennifer but perhaps I can help you out.

FAFSA stands for "Free Application for Federal Student Aid."
EFC stands for "Expected Family Contribution" (the amount the gov. says you and your family can afford to pay towards your tuition. This is based off of tax return information.).

[cookderosa]

Hi,
I'm not Jennifer but perhaps I can help you out.

FAFSA stands for "Free Application for Federal Student Aid."
EFC stands for "Expected Family Contribution" (the amount the gov. says you and your family can afford to pay toward your tuition. This is based off of tax return information.).

LOL sorry (and thanks!) as I typed it wrong The application is free, and you can google it to go into the page. You fill it out online, and it saves it for you if you get to a spot where you need to go look something up or finish later. It's your first step in the process for ANY financial aid. So, check that out asap. You can do that today actually.

After your form is done, TESC (or whichever school you select) gets a notice that you did it and you can follow up with TESC and ask what your "financial aid package" contains. They'll likely tell you to hold your horses and that they'll send you something in the mail. It will include a list of student loans, grants (if you qualify), etc. You simply check the box of the ones you want. Be careful that you refuse the add'l loans or you'll end up in big debt. They loooovvveeee to throw student loan debt at you because it's the only kind of debt that you CAN NOT DISCHARGE under any circumstances- ever- even bankruptcy, and not always death. So, don't borrow a penny more than you have to of THAT KIND of loan.

[surferD]

Thanks for the responses!