I was eligible for the auto zero efc based on my mother’s income and thus was estimated for the full Pell Grant. This also meant I didn’t have to add any assets in the fafsa (we didn’t have all the info on hand anyways). Now UCF wants me to verify my mother’s taxes and in the verification form is the assets. We are listing the $10k for cash, $10k for investments (pre-paid tuition), amd $7500 for payments to savings plan. Her income per year is $15k.
Will this new info that I am sending to UCF cause a decrease in my Pell Grant or will my “zero efc” and thus full Pell Grant estimated offer still stand?
Looks like your mom’s income is too low for her assets to count.
Mom2…there is the income threshold…and I believe other qualifiers as well.
To the OP, do you receive free or reduced lunch or SNAP benefits? OR did your mom file a 1040 A or 1040 EZ form?
Is you SAR indicate your EFC is 0? If yes, you should get the full Pell Grant.
Did you do the IRS Data Retrieval Tool?
We did receive free lunch. I don’t remember anything about a IRS data retrieval tool so I’m assuming we didn’t. I’ll look into it when I get home. That would be linking 2014 taxes to the 2015-2016 fafsa correct? Also, any specific insturctions? Because I went onto the fafsa yesterday and wasn’t seeing any such option.
I’m not sure what my SAR is.
SAR is your Student Aid Report. You would have gotten that when you submitted your FAFSA.
In any event, you don’t need to worry. Your Pell grant is an entitlement grant, which means that even though a college can ask for verification of your income asset figures, they can’t mess with your Pell grant unless those figures don’t match up with what you submitted previously. In your case, your Pell grant was based on your mother’s income. So long as her income is more or less the same as what you indicated when you submitted the FAFSA, you’ll be fine.
Found the SAR and it also says efc of zero.