With an EFC of 000 will I pay for nothing?

Question

types of grants:

Pell around $4,100

FSEOG around 4,000

state grant(indiana) unknown?

I graduate H.S many years ago with very POOR grades, I didn't apply to any scholarships but I heard I should of. Even though I have no idea what I would be accpeted for.

My EFC is 000, so does this mean I will have to pay for nothing? Going to Indiana University. Website states cost is about 10-12K a year.

I'm just curious if anyone had experience with this, but I will be talking to financial aid office very soon. Just asking

Answer 1

It technically means that but that isn't how it goes. You're probably going to still have to pay some things. I got an EFC of 0 and had very good grades all throughout high school but still only received about 14k and I still have to pay about 4k out-of-pocket. (I applied for scholarships but didn't get any.) And this in in-state tuition too.

Answer 2

4100 plus 4000  is only 8,200 a year and if your school is 10-12 a year you are short two grand unless you get a state grant or more money from other sources.  It also depends on if the 12K is just tuition or if it includes fees, books, insurance, parking permit....

If you were going to an instate community college I would say yes, you would pay NOTHING.  You would even get a nice  refund check amount given to you.  (The cheaper your school is the farther that Pell grant will go.  You get the extra money if your school is not that expensive).  A community college costing 3K a year would give you a refund check of 5,100 with a 4,100 Pell grant and a FSEOG of 4,000 a year.  (which is why community colleges are so popular).

I'm not sure where you got your 4,100 amount, but the full Pell grant next year is about 4,700 if you go full time (you'd get half in the fall and half in the spring.  Also the FSEOG is very limited money, don't count on it unless it's on your award letter already.  That one goes to those who apply for fin aid early... like Jan, Feb and March.

Hope this helps.  here is a good book.