I’d like to understand Calgrant eligibility better. From what I can see, you need to be below a certain income threshold AND have financial need at your college.
So…as an example…UCLA is just under $35,000 cost of attendance. If a family has an EFC of $30,000, they would have need. But would the Calgrant pay any of the family EFC?
In this case, the higher EFC is being driven by high assets.
There is a separate asset ceiling as well as income requirements, which can’t exceed $67,500 for 15-16.
I personally haven’t seen a $30,000 EFC qualify for Cal.
The $30,000 EFC person claims that most of this EFC is due a high asset amount held on the student’s name. Without that asset, supposedly the EFC would be under $10,000.
Would the Calgrant ever pay any part of the EFC?
In other words, say this kid got accepted to UCLA…with a COA of $35,000. He would have $5000 of need. Would the Calgrant just pay that amount…and exoect the parent to pay their EFC?
Cal grant does not pay any of the EFC.
COA - (minus) EFC = cal grant need
Or COA – (minus) EFC – (minus) Pell = cal grant need
For Cal Grant, you need to be below a certain income AND asset threshold AND have financial need.
When my son applied to the UC’s, we had an EFC of 20K for each of my twins . Our income was in the range for cal grant eligibility, but we exceeded the asset limit so we didn’t qualify for cal grant.
Here is the income and asset ceiling notice for 2015-16
http://www.csac.ca.gov/facts/2015-16_income_and_asset_ceilings_for_new_applicants.pdf
Here’s a couple of documents that explain CalGrant http://www.csac.ca.gov/training/2015-16_cal_grant_hs_counselor_workshop.pdf and from 2013 (but still accurate) http://www.casfaa.org/assets/documents/confdocs/2013/sessionhandouts/b5%20-%202013%20casfaa%20cal%20grant%20101.pdf