Pell Grant EFC
The Pell Grant award amount is determined by a students EFC score. The EFC stands for Expected Family Contribution and is calculated based on your familyís income, assets, number of family members in school, and other factors that could impact paying for college. In order to receive an EFC score, students must complete and submit the FAFSA application by your schools due date. Submitting a FAFSA application will qualify students wanting to receive the Pell Grant.
Students that received an EFC score of 0 receive the highest possible Pell Grant award amount. The total school award amount for an EFC score of 0 represented 5.5 Million students last year with a total of 8.1 Million students receive a Pell Grant amount. Students with an EFC score of zero represented 67% of total recipients. 85% of the total Pell Grant recipients received an EFC score of 2,000 or less. Students that have a low EFC score will probably receive a Pell Grant.
A studentís EFC score can be found on the SAR (Student Aid Report), which is sent to you from the Department of Education. This report shows how much you should be able to contribute towards your education based on the financial information submitted in the FAFSA. A copy of the SAR will also be sent to the schoolís financial aid office where the award letter created based on the SAR information.
Students that have an extremely high EFC score will probably not receive a Pell Grant, since this indicated that the studentís, ďFamily,Ē is able to contribute a large amount towards their childís education. There were only 67,000 students that had an EFC score between 4,401 - 4,617 and received a Pell Grant. This represents only 1% of all students that received a Pell Grant. Any score of higher than 4,617 did not receive a Pell Grant for the upcoming school year.
The SAR report may not include your EFC if the Department of Education finds that the financial information provided was incomplete. Itís important to answer every question and submit your tax documents to make sure there are no delays in your award letter. In order to receive any form of financial aid, students must have fully completed the FAFSA and have received a SAR Report with an EFC score. Contact your financial aid office if you havenít received an award letter before your school year starts.