What are the requirements to be eligible for the Federal Pell Grant?

Paying for College
1

<p>I'm applying to college for the 2015 fall semester. Is there any kind of minimum income or minimum assets?</p>

2

<p>Your FAFSA EFC must be less than $5000 to be eligible for any portion of the Pell. </p>

<p>If your EFC is $0, you would,get the full $5730 Pell. The Pell is then prorated based on yoir EFC…if your EFC is $1000, you would get a $4370 Pell.</p>

<p>Has anything changed since your last thread…
<a href=“FAFSA-Income Question Fall 2015 Freshmen- To buy or not to buy - #14 by matthewmatt - Financial Aid and Scholarships - College Confidential Forums”>FAFSA-Income Question Fall 2015 Freshmen- To buy or not to buy - #14 by matthewmatt - Financial Aid and Scholarships - College Confidential Forums;

<p>You got a good explanation there. </p>

3

<p>There is not a minimum income/assets but a maximum. You can fill out the FAFSA4caster and see what your EFC will be. If it is 0, you will get about $5700. If it is 5700 or less, you will get a portion of that amount.</p>

4

<p>I would suggest all read the other thread linked above. It better,explains this poster’s circumstances.</p>

5

<p>Thanks everyone. </p>

<p>“If your EFC is $0, you would,get the full $5730 Pell. The Pell is then prorated based on yoir EFC…if your EFC is $1000, you would get a $4370 Pell.” </p>

<p>That clears up a lot. Thanks guys!</p>

6

<p>Matthew, it is very very unlikely you will qualify for Pell if YOU earned $40k in 2014, since you won’t have a lot of deductions like your parents would.</p>

7

<p>Two in…we don’t know if Matthew will qualify…or not. If everyone in his family could file a 1040a, or 1040ez, and his parent incime is below a certain amount, he would qualify for the simplified needs test…and his income and assets would not be counted…I believe!</p>

<p>Someone clarified this on the OTHER thread.</p>

<p>If Matthew is not eligible for simplified needs test, he will not qualify for a Pell because his student income would be too high.</p>

8

<p>No, simplified means eliminates parent and student assets only. Student income is still counted over the $6260 allowance. Auto zero would be required to eliminate student income from consideration. That means parent AGI less than $24k and one of the other qualifiers like 1040a/free or reduced lunch etc.</p>