<p>Can you get the Pell Grant and the FSEOG?
I have a EFC of zero, so I should be able to get the combined 9,500)
The reason I have a EFC of zero, is because the buisness we own is making a 8,000 profit a year.
The Tuition is 20,500 a year.</p>
<p>Academics Stats (If they matter)
4.81 GPA
3.94 GPA
1930 SAT
29 ACT
Student body Secretary,Treasurer and Vice President. (9,11,12, lost VP bid in 10th)
Basketball
DECA
FBLA
Math Club (VP,11th President,12th)
Science Olympiad (Secretary 11th, VP 12th)
National Honor Society</p>
<p>[Federal</a> Supplemental Educational Opportunity Grant (FSEOG) Program](<a href=“http://www2.ed.gov/programs/fseog/index.html]Federal”>http://www2.ed.gov/programs/fseog/index.html)</p>
<p>Please note that your grades and test scores have nothing to do with these two grants. They are not scholarships.</p>
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<p>Really, then what’s your family living on? Or are your household expenses being paid by the business?</p>
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FSEOG funds are very limited and are not guaranteed to every student who has a need. Even if you should be eligible for FESOG funds, you will not receive $4,000.</p>
<p>Any and all expenses that your parents write off for the business will be added back in for financial aid purposes.</p>
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<p>Don’t think so. I own a business and my expenses were not added back in on the FAFSA. We didn’t apply to any Profile schools but that form may add some back.</p>
<p>Adding back *all *expenses makes no sense. If I own a store and gross $150K a year and pay 2 employees $30K each and rent/utilities on my storefront of $30K a year and cost of goods is $20K (just making up numbers here), that should be added back? I think it more likely that for FA purposes, as for income tax purposes, I cleared $40K for myself. </p>
<p>Maybe they’d add back a home office deduction or that kind of thing, but on FAFSA not even that.</p>
<p>FAFSA does not add business expenses back in. Profile does.</p>
<p>Profile adds back in business expenses like employee compensation, rent and cost of goods sold? Really?</p>
<p>I would think it may vary from school to school but things like home office, interest expense, vehicle use, these kinds of things may be added back in. But I wouldn’t assume that basic can’t-run-my-business-without-them expenses will be added back in.</p>
<p>The OP hasn’t said what type of expenses result in that low profit.</p>
<p>I think you’re mostly right, ohiobassmom, though in some cases, a basic can’t-run-my-business without it expense might look like an “optional” expense. For example, my DH runs a business that is computer-based. For him, relatively frequent replacement of his computer is a can’t-run-the-business-without-it expense, but it’s unclear whether all the schools would see it that way. Likewise some businesses may have unavoidable travel expenses, that are probably also look upon with suspicion by finaid formulas. Even employee expenses might be questionable if there is a chance that some of them are paid to family members. Likewise funding retirement accounts for employees who may be family members, etc.</p>
<p>*Can you get the Pell Grant and the FSEOG?
I have a EFC of zero, so I should be able to get the combined 9,500)
The reason I have a EFC of zero, is because the buisness we own is making a 8,000 profit a year. *</p>
<p>If you keep the EFC 0, then you’ll get the $5500, but don’t count on the other grant. Schools have a limited amount of these grants, and run out of these funds. And, the amount is a RANGE. So, a student might get 1000 SEOG…or NOTHING. </p>
<p>If you’re just finding out about your aid package now, that would suggest that you filed FAFSA late, so doubtful the school would have the funds.</p>
<p>The statement above is correct that schools will wonder what you’re living on.</p>