Before I began college I knew that I would have to get a substantial amount of financial aid to pay for school. Someone then mentioned the Pell Grant to me, and how it was one of the best kinds of aid to have due to the fact that it can total over four thousand dollars per year, and because it doesn’t ever have to be paid back. I then realized that I definitely wanted to apply for the Pell Grant, but I had no idea where to start, or if I was even eligible to receive the grant.

My first goals were to find out if I was even eligible, and how to apply. After doing some research I learned that the Pell Grant was approved mostly in regard to your ability to demonstrate a significant need for such aid to pay for school. Your need for such aid is mostly determined by taking what your family makes in terms of income on an annual basis in combination with whatever money you make each year. The specific metric that is used to indicate your need for the Pell Grant is called your expected family contribution, or EFC.

The EFC is computed via a number of different factors, but the most crucial one is the amount of money your family’s household makes on a yearly basis. If your EFC come out to anything lower than 3,850 then you have a good chance at receiving the grant, as this correlates with a household income that is less than twenty thousand dollars per year. Having an income higher than twenty thousand dollars per year won’t automatically disqualify you from receiving the grant, it will only lessen your chances of getting approved for the full amount.

The actual EFC metric is determined when you fill out a FAFSA. The FAFSA is the federal government’s universal application for financial aid, and to become eligible for the Pell Grant you must fill one out by the appropriate deadlines. The good news is that you can get a pretty good idea of your likelihood of get getting approved for the Pell Grant right when you fill out the FAFSA, as your EFC is calculated immediately when you fill it out. EFC isn’t the only thing that is included when determining your ability to qualify for the grant, as your Pell Grant eligibility is determined by a number of other factors besides EFC. These include but are not limited to, the degree program you’re enrolled in, the school you’re attending, your criminal record, and the types of aid you may be receiving. Always keep in mind that your Pell Grant eligibility is most based upon your EFC, and that to be considered you must fill out a FAFSA in a complete fashion and by the appropriate deadlines.