The Department of Education will use your family’s income and expenses to calculate your Expected Family Contribution (EFC). To be eligible for the Pell Grant for the 2021-2022 academic year, your EFC needs to be at or below $5,846. Because of this, there is no set income cutoff for Pell Grant eligibility.

What is the maximum Pell Grant for 2022?

$6,495
The maximum Pell grant award for 2021-2022 is $6,495 for eligible students with a 0 EFC (make sure to read additional awarding guidance provided in the Dear Colleague Letter.

What does the EFC mean on the FAFSA?

Your EFC is the amount of money that a college estimates that your family can afford. This is calculated as part of your financial aid application process through the FAFSA, CSS Profile, or other financial aid forms. You can think about your EFC as the baseline for your financial aid package.

What kind of financial aid can I get with a low EFC?

The below chart will explain the maximum amount of federally subsidized loans you’re eligible for each year of study. If your EFC is low and the cost of tuition is high, you’re more likely to qualify for need-based financial aid. Non-need-based financial aid is not determined by your EFC.

What should my EFC be for one year of college?

An EFC is a dollar amount that the widely-used federal financial aid formula says your family should be able to pay for one year of college. When deciding how much financial aid to award a student, colleges pay attention to the applicant’s EFC. For instance, let’s assume that a household’s EFC is $25,000.

What happens if my EFC is$ 10, 000?

Not necessarily. If by “EFC” you mean the one calculated from FAFSA, it is used to calculate Pell grant amounts; if your FAFSA EFC is below the maximum Pell grant amount, you get a Pell grant of the maximum Pell grant amount minus the FAFSA EFC. $10,000 is higher than the maximum Pell grant amount, so no Pell grant.