The basic requirements of any student wishing to get funding through Pell grants are simple. You have to be a U.S. citizen or have legal permanent residency. The other main stipulations that you must have are:
- Have a valid social security number.
- Be registered with the selective service or national guard if you fall between the ages of 18 to 25.
- Have graduated high school or hold a General Education Development Certificate. In some circumstances you can sit an exam.
- Be accepted on a course that is in a school that takes part in FSA initiatives.
If someone has been convicted of selling or possessing illegal drugs they will not have federal Pell grant eligibility. If they are convicted during or after applying for funding then they will have to give any money they receive back. So the chances are there is money available if you need it and apply for it.
The Free Application for Federal Student Aid (FAFSA) is an organization that has been set up which acts as an application center. Not every applicant will be successful as funding is intended for families with low incomes. Details of family’s incomes have to be disclosed during the application process and from that you will get an EFC (Expected Family Contribution) score.
Your EPC score is really what determines what, if any funding you will receive through the federal government. It takes in to account the contribution that could be made by the student and their family. A high EPC score would mean a lower contribution from the college in the form of a Pell grant. There are certain things which lower a student’s EPC and will increase funding provided such as:
- Brothers or sisters living at home and being supported by the collective household income.
- Elderly relatives being supported by the household income.
- A lack of assets owned by the student.
- A lack of or low income in the students case.
- Number of parents in the household.
- Low income for the parents.
These all matter if you are considered a dependant student and are not the primary provider in your household. Your EPC scoring is calculated differently if you are classed as an independent student. You are an independent student if any of the following apply to you:
- You are a serving U.S. Armed Forces employee or a veteran of the said forces. This does not include people in training.
- You are aged 23 or over.
- You intend to study complete a masters or doctorate in the year/s you are applying for funding.
- If you are married.
- You have dependants that rely you on you for financial support.
- If you were cared for by the state or were an orphan up to the age of 18.
As the cost of attending college varies wildly from institution to institution, the actual amount of help you get may vary from one to another. The Cost of Attendance (COA) is used to determine how much help you should receive. If the cost is greater than your EPC score then you have a need for financial assistance. Your EPC is taken from your COA and that will indicate how great your needs are. This is why the lower your EPC the more financial aid you are awarded.