FAFSA Pell Grant
The FAFSA, also known as the Free Application for Federal Student Aid, is the official application to apply for federal financial aid. Students must complete and submit their FAFSA application online or by paper each school year in order to be eligible for the Pell Grant. The FAFSA takes into account the studentís (independent) or parentís (dependent) financial and personal information to determine how much the student is expected to contribute towards their education.
Students or parents of students with high income and assets will most likely not qualify for a Pell Grant. Pell Grants are granted only to students considered low-income. On average, students with income below $30,000 will qualify for a Pell Grant.
Students will receive the SAR (Student Aid Report) once the Department of Education calculates how much students should be able to contribute towards their education. All students that complete the FAFSA will receive an EFC score found within the SAR. The EFC score, also known as the Expected Family Contribution, is used to determine if the student qualifies for federal financial aid and the Pell Grant.
Students with a 0 EFC score will receive the maximum Pell Grant amount, while students with a low EFC score will receive a portion of the maximum Pell Grant amount. Students that have a 0 or low EFC score means that they would not be able to contribute towards their education based on their current income and financial information given in their FAFSA.
Itís important to note that in order to be eligible for the Pell Grant, students must complete and submit a new FAFSA application each school year. Students that do not complete the FAFSA will not be eligible for any federal financial aid. The FAFSA is available for students to complete in January and requires tax and year-end financial information. If you donít have this information available, you can still complete the FAFSA and submit the missing information at a later date.
Students that complete their FAFSA online are required to submit their application using a FAFSA PIN. The FAFSA PIN is considered the studentís identification and signature online. Without the FAFSA PIN, students are not able to submit their application or gain access to the FAFSA financial aid online account. If the student has forgotten their FAFSA PIN then they can request one be sent to them through regular mail to the address given within their online application. The FAFSA PIN will not be sent to an email address, so please allow 3-5 days for processing and delivery.