I’m about to turn 19 and will be enrolling to attend the local community college for fall of this year, so I decided to start filling out the FAFSA now. My mother is disabled so we were living off her income of $908 a month from SSDI, I got a job working at the grocery store over the summer(which I’m still working at), and saved up most of the money which is around 4,000+ or so. The money I actually spent was used to pay off the cable bill and our utilities. I was reading into how they use the EFC to determine how much your family is expected to contribute to your education. If my mom is only bringing in about 10k a year so wouldn’t I qualify for an automatic 0 and receive the most amount of aid? I heard that your assets are taken into consideration but then I also heard if you qualify for 0 EFC that they aren’t taken into consideration. Is this correct? Also, I’ve been told that you don’t report SSDI on the FAFSA but I spoke to someone on the phone who said that you should list it. But my mom doesn’t file taxes?
If your mom’s SSI is not taxable it is not reported on the FAFSA, I believe.
For auto $0 EFC, you need to have the low income (which you have), plus one of the following.
- Ability to file a 1040 A or 1040 EZ tax form.
OR
- Qualification for means tested benefit such as free/reduced lunch, or SNAP.
OR
- Parent who is a dislocated worker.
If you have one of these three, you would have auto $0 EFC.
BUT this would guarantee you the $5800 Pell Grant and a $5500 Direct Loan only. You might get SEOG if the school offers it. And you might get school based grants if the school offers those.
The policies of awarding need based aid vary from college to college.
Would it be my mom or myself that should have the ability to file 1040 A or 1040 EZ?
We’re already apart of the SNAP program as that’s how we’re able to get our food every month.
If that’s the case, then the tax form used doesn’t matter.
So are my assets (the $4000) I have saved in my bank account not taken into consideration? Based off everything you said and my current financial situation I should qualify for $0 EFC.
If you have the low income…and you have SNAP…your income and assets are not considered when an auto $0 EFC is determined.
BUT…an auto $0 does NOT mean that college will be free for you…it doesn’t. Most colleges do not meet full need for all accepted students. Some don’t give institutional aid in large amounts at all.
With your $0 EFC, all you are guaranteed is $5800 or so in Pell Grant money and a $5500 Direct Loan for freshman year. Those are the only guarantees.
So…where are you applying to college? The Pell plus Direct Loan will pay your tuition at a community college and at some four year colleges where you can commute from home. But $11,000 will not pay for the full cost to attend a residential for year college where you live in the dorms…unless it is a VERY generous (and competitive) college that guarantees to meet full need.
Are you a HS junior? Your GPA and SAT or ACT scores will play a huge part in where your chances of being acceoted to college are.
I will be applying to Hudson County Community College in Jersey City, New Jersey. I will complete an Associate degree before transferring to New Jersey City University. I’m not a junior in high school. I didn’t take the SAT which is why I’m doing community college first.
Just go ahead and fill out the FAFSA now, and you’ll see what you qualify for. It does sound like you’ll qualify for $0 EFC and the pell grant.
If you have questions, I’m sure there is someone at the community college that can help you and get you started there.