Myy EFC score is 0 on the FAFSA, but i have $4000 in savings, will i not get the $4,700 Pell Grant?

Question

Myy EFC score is 0 on the FAFSA, but i have $4000 in savings, will i not get the $4,700 Pell Grant?

Answer 1

Pell grant eligibility is based entirely on your EFC score and nothing more.

Your savings were (I hope) reflected on the FAFSA form that you submitted. If not, you need to correct that.

The reality is, however, that student assets do not have much impact on the EFC calculation unless those assets are really, really substantial.

So - nope - the savings won't affect you - you'll receive the full Pell Grant of $4731 this year.

Good luck - I hope that helped.