Do you know what all of this grants are???

Question

my EFC came out to be 000 which i heard is good?? does this pay my whole tuition?? .. i am not the riches student ever!

i also heard about the FSEOG??? what is that and can i apply ?? what are the requirements for this grants???

and what's pell grant???

and the governors fee waiver??? ***i live in california***

Answer 1

When you completed the FAFSA form, you told the US Department of Education about the financial circumstances of you and your family. After reviewing the information that you sent them, the Department determined that your Expected Family Contribution (EFC) score was zero. As you can probably guess, this is the lowest possible score.

The lower your EFC score, the more types of federal financial aid you qualify for, and the more you are eligible to receive in each of those forms of aid.

Because you received a score of zero, you have automatically qualified for the federal government's Pell Grant program. Eligibility for that program is determined entirely by your EFC score. You will receive the maximum amount of Pell Grant available for the 2008-2009 school year - that amount is $4731. That money will be paid directly to your school - half in the fall semester and half in the spring semester. Remember, $4731 is the total for the entire year.

An EFC score of zero also makes you eligible for another government grant called the FSEOG grant - this stands for Federal Supplemental Equal Opportunity Grant. This one is a little harder to predict, because being declared eligible and actually getting money from this grant are two different things.

Each year, the Department of Education sends money to each participating school for FSEOG grants. The schools are then free to divide that money up in the manner that allows them to help the greatest possible number of eligible students. The trick to maximizing your FSEOG money is to get your financial aid application in early every year. The early bird definitely gets the money, when it comes to FSEOG grants. Your financial aid office will be able to tell you how much FSEOG grant money they have available for you.

An EFC of zero also qualifies you for work-study. This is a government-assisted program that will help you find a part-time job that will allow you to earn money for your educational expenses. The school may or may not (and probably won't) help you find a job, BUT when you go to apply for a job on your own, you will be able to tell the employer that you are a federal work-study student. This tells the employer that the government will pay part of your salary every week - so that makes you a very enticing hire.

Think about it, Starbucks could hire that guy and pay him $8 an hour, or they could hire you and pay you just $3 an hour, with the government picking up the other $5 of your salary. Who do you think they're going to hire?

An EFC score of zero also means that you have qualified for the best type (and the highest possible amount) of educational loan - the subsidized Stafford loan. The maximum you can receive as a first year dependent student is $3500. If you need additional funds, you can qualify for another $2000 of unsubsidized Stafford loans.

As for the governor's fee waiver - this is another grant program that is unique to California - you have to be a low income California resident to qualify. The state of California will pay for any enrollment fees that your school charges you, and they'll help with a parking pass, as well. Note that this isn't your "tuition", the money you're paying for each course, but rather the add-on "fees" that you pay every semester for athletics and labs and things like that.

Of the programs I described above, the only ones that you would ever pay back are the Stafford loans. The Pell, FSEOG and Governor's fee waiver are all grants, and a grant is a free "gift" from the government.

Whether or not all of these various financial assistance programs will completely cover the cost of your education depends on things that I don't know about your situation. If you're a California resident, attending a California state school, taking 12 credits a semester, and living in a low-cost dorm option, your entire bill may be covered by your assistance. If you're registered at a private school and you hope to take 18 credit hours and live in a more expensive apartment-style dorm (or off campus), then all of your bill may not be covered.

The only people who can give you an accurate answer to this question are the people at your school's financial aid office. Give them a call, and ask - they get this question all day long, and they'll be glad to help you.

In the meantime, I've attached a US government booklet that explains the federal financial aid program - I think it will answer many of the questions that you and your parents might have.

I hope this helped - good luck in school!