I applied for financial aid and I was wondering if anyone had an idea of how much I should get from need-based or merit based grants? (Or how much I would get from only applying for fafsa). I would be getting no help from my parents. They make around $18,500. I am already in community college 2ed year with a 3.6 GPA and plan on transferring to a instate university that costs a little over $14,000 a year next year. I’ve applied to a few transfer scholarships at the school but I have no idea how much I might get from only applying for federal aid. I really don’t want to take out loans. But I will if I have too. Thanks!
Did you try the Net price calculator for the college?
Yes I have but the college’s net price calculator that I want to go to isn’t very detailed. For my family’s income, I can only select 30k and under.
What’s your FAFSA EFC?
Which tells you that below $30K they don’t change their calculations (in other words, you get their maximum once you are under $30K). More to the point, it will depend on the specific school. Call the financial aid office.
That’s fine that you can only select 30k and under. That’s probably an EFC 0.
Your FAFSA EFC is likely 0. There isn’t a lower number for a lower income.
The max assured grant you’d get is a full Pell Grant which is about $6k.
You might get a very small FSEOG grant.
You will likely have to take out loans unless your state also gives grants.
I’m not sure. How would I find that out?
Is there some reason you don’t go ahead and file the FAFSA?
You can get an idea about EFC by using the FAFSA 4Caster:
https://fafsa.ed.gov/FAFSA/app/f4cForm?execution=e1s1
When you’ve filled out FAFSA in the past, you should have been given an EFC.
How much do you get each year (not semester) for a Pell Grant?
You attend a CC. didn’t you fill out FAFSA to get aid for your CC classes? If so, exactly what aid did you get awarded each year?
I got about 5k for each year which was well over what I needed because it is a cc. I just didn’t know if it would be more because next year I’d be going to a university where Turin is much higher
The Pell Grant is based on your FAFSA EFC, not on the cost of attending the college. So…if you got $5800 last year with an EFC of $0, you will get the same this year.
The 2015 tax information will,again be used this year on your FAFSA.
Tuition*
Okay, I just used the link and it said my EFC is 200??
Then you will get about $5600 in Pell.
If your tuition was less at CC than the Pell you got, did you save some of that money to help pay for future university costs?
If you included the leftover Pell money you have in savings in your student assets on FAFSA, you can correct that, you don’t have to include financial aid in student asset number.
You do need to make a plan on how you will cover the costs at the university. Tuition, fees, are you commuting from home, or are you needing money for housing and food?
If you live in a state with a state grant program you might get something from there, and as a junior you can take out a $7,500 student loan.
Do you have a parttime job currently? You should also plan to earn a few thousand $ in the summer.
If you filed the FAFSA, your EFC is listed on your SAR, student aid report.
Good for you that you are looking into this now, instead of having a huge disappointment later!
D #1 applied to 11 schools, got into 10, but we could not have afforded 6 of them without extra loans. The state schools were the only ones that were affordable, and one private where she lucked out (and is attending).
Schools often make it sound like they meet need…but it is according to how THEY define need. Financial aid can include hefty parent loans and gapping (difference between aid and cost leaves a large sum of money you are expected to come up with out of pocket).
I hope you keep checking in on CC as there are posters with experience who can give great advice. Best of luck!
Can your parents file a 1040A tax form? Did your family receive federal means tested benefits like free/reduced lunch or food stamps in the past two years? Then the EFC with a $18,500 income should be $0.
What is your home state?