I am not eligible for a Pell Grant, why?

Question

I am 26 years old and I am just starting back to college. I filled out my FAFSA and just received my SAR that tells me I am not eligible for a Pell Grant. Apparently my EFC is $9500 and I am really confused. My gross income for 2007 was $31,000. I am an independent now and did not have to state my parents income which would have automatically made me inelegible for most aid. Why is it that they expect me to pay almost half of my net income?? I feel that this is strange, can anyone shed some light on this matter for me?

Answer 1

The Federal Pell Grant Program provides need-based grants to low-income undergraduate and certain postbaccalaureate students to promote access to postsecondary education.

Grant amounts are dependent on: the student's expected family contribution (EFC) (see below); the cost of attendance (as determined by the institution); the student's enrollment status (full-time or part-time); and whether the student attends for a full academic year or less.

Students may not receive Federal Pell Grant funds from more than one school at a time. Financial need is determined by the U.S. Department of Education using a standard formula, established by Congress to evaluate the financial information reported on the Free Application for Federal Student Aid (FAFSA) and to determine the family EFC.

The fundamental elements in this standard formula are the student's income (and assets if the student is independent), the parents' income and assets (if the student is dependent), the family's household size, and the number of family members (excluding parents) attending postsecondary institutions. The EFC is the sum of: (1) a percentage of net income (remaining income after subtracting allowances for basic living expenses and taxes) and (2) a percentage of net assets (assets remaining after subtracting an asset protection allowance).

Different assessment rates and allowances are used for dependent students, independent students without dependents, and independent students with dependents. After filing a FAFSA, the student receives a Student Aid Report (SAR), or the institution receives an Institutional Student Information Record (ISIR), which notifies the student if he or she is eligible for a Federal Pell Grant and provides the student's EFC.

http://www.ed.gov/programs/fpg/index.htm...

Answer 2

Don't take it so personal. I didn't qualify for any financial aid after filling out the FAFSA and had to pay my way through school. In fact, I'm still paying on it. However, my education has helped me get a better paying job so I consider it an investment in myself istead of just another creditor. Most schools (and the government) believe it is up to the student and his/her family to pay for the cost of education. The government may supplement that cost, but they won't assume the entire cost. Students also have the choice of attending a school that they can better afford. I went to a community college for 2 years. I didn't have to borrow as much. My financial counselor told me that colleges expect students to pay for their education through three different resources: savings, current income and future income (loans). Your other choice is to not attend, or quit your job so you'd qualify for more financial aid.

Answer 3

You're not eligible because you made too much money.  My wife and I made $23,000 last year and I didn't get a completely full Pell Grant either, and we have a family of 5!

Maybe you should look into a cheaper school.  There are community colleges with tuition rates under $1000 per semester and state schools under $4000 per semester.

Also, you do realize that federal financial aid is not meant to pay for your school?  It's meant to help YOU find a way to pay for school.  There are still federal loans available to you if you need more help.

Answer 4

They expect you to pay because college is not free nor is it a right. If your gross was $31k last year, you are making a good income and should be able to contribute to your own education or take out loans, which based on your income you are in a good position to pay back, leaving the grants and awards for people who work their behinds off and still only pull in $11k a year or less or children who grew up in foster care and have no family to help, and so on. They have a limited amount of money and have to give it where there is the most need.