2-Part Question: Stacking AmeriCorps/Pell Awards, EFC=0? +TFA!

Paying for College
1

Hey all -

So I have a nuanced question. It would probably be best to start with the background: I will be working with Teach for America next year and also attending graduate school for a MS in Ed. TFA is an AmeriCorps program affiliate, so you get the Segal ed award for the two years of the program, which is the equivalent to what the Pell grant is per year ($5,775 per year for two years).

My first question: Can I stack the AmeriCorps award with an actual Pell grant? Or is the AmeriCorps award more an “assurance” that you’ll get the Pell grant? I plan to submit my FAFSA, so assuming I’m eligible for the full Pell, does that mean I get both the $5,775 for Pell and $5,775 for AmeriCorps each year? Or just one?

My second question: I am coming at this after having been in the Peace Corps for two years; ergo, my AGI for the past two years is zero, plus I am an independent at this point (will be 26 years old), so my EFC is effectively zero.

I’ll be attending a college whose tuition is approximately $15,000 per year, plus approximately $20,000 in estimated living expenses per year.

I’m sure the amount of federal aid that I’ll qualify for will be dependent on a million factors, but if my EFC is zero, does that mean that it’s highly likely that the federal aid will fully cover my tuition? Can it possibly cover beyond the tuition (i.e., tuition + living expenses)?

Thanks for your help, guys! I’ve been out of college a few years, but I never really qualified for very much FA throughout undergrad, so I’m not terribly well-versed in this world. I appreciate all the comments in advance!

2

Are Pell grants available to grad students?

3

Grad students can get Pell for some teacher certifications. https://studentaid.ed.gov/sa/types/grants-scholarships/pell

I have no idea if this student would qualify.

4

Pell is only awarded outside of an undergrad degree program in certain post baccalaureate teacher certification programs. I don’t believe an MS Ed degree program qualifies for Pell. Here is the FSA Glossary definition:

Postbaccalaureate Teacher Certification Program
A program for students who have already earned a bachelor’s degree that (1) does not lead to a graduate degree, (2) is treated as an undergraduate program, and (3) consists of courses required by a state in order for the student to receive a certification or license to teach in an elementary or secondary school in that state.

You will be eligible for your Americorps award, a $20,500 unsubsidized loan, and a Graduate PLUS loan in the amount of the Cost of Attendance less any aid awarded (grants, loans, federal work study). Grad PLUS is not guaranteed - there is a credit check. It’s a “bad” credit check … you don’t have to have good credit, but you can’t have bad credit. If your credit is denied, you can appeal (many of my students were successful in their appeals) or you can obtain a credit-worthy cosigner.