Hi everyone, I'm an independent student and I'm trying to find out more about Pell Grant income limits. How does the Pell Grant work for independent students and what are the income limits for eligibility? Thanks in advance for any info you can share!
Hi there! The Pell Grant is a federal grant which provides financial aid to students who demonstrate financial need. For independent students like you, the Expected Family Contribution (EFC) will be calculated based on your financial information alone, rather than including parent information.
When determining Pell Grant eligibility, a variety of factors are considered, including your income, assets, family size, and the cost of attendance at your chosen school. In general, to be eligible for a Pell Grant, you must have an EFC below a certain threshold; for the 2023-2024 academic year, the maximum EFC to qualify for a Pell Grant was $6,656.
The amount of the Pell Grant awarded also varies based on the EFC. As an independent student, you may be more likely to receive a higher Pell Grant amount if your income is low and you have few assets. The maximum Pell Grant award for the 2023-2024 academic year was $7,395.
It's important to note that the figures mentioned here are specific to the 2023-2024 academic year and may change. To determine your eligibility for a Pell Grant, be sure to complete the FAFSA (Free Application for Federal Student Aid) each year, which will calculate your EFC. The financial aid office at your institution can also provide you with more information and assistance with understanding your eligibility.
Good luck with your financial aid search, and I hope this information helps!
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