Important to share: How the student's EFC increases or decreases the federal aid.
The FAFSA (Federal financial aid application) measures the family and /or the student’s ability to pay for college. The EFC is the final outcome of the financial aid application. We use that number to calculate the award amount students are going to receive from the federal financial aid programs: Pell (grant, free money), Loans (money you pay back with interest), Work-student (aid that you earn) and other federal aids.
The lower the EFC the more financial aid the student can get. There are some factors that decrease the EFC, and therefore, increase the chances for the student to receive a better financial aid package. For instance, the family size and the numbers of family members in college. The larger the family size and the more family members in college the more financial aid students can get.
The attached document shows the Pell Schedule chart for 2013-2014. It depicts the Student EFC and the amount the student is going to receive based on students EFC and the student’s status in college: Full-time, ¾ time, half-time and less than half time. Students that have an EFC of 5082 or higher are not eligible for the Pell grant, but they may be eligible for federal work-study and or Stafford loans.
- RAMON2 PELL CHART 13-14.pdf
|Ramon L. Rodriguez|