Which students qualify for an automatic zero EFC?

For both dependent and independent students, the household income threshold is $29,000. For dependent students, this means their parent(s)' Adjusted Gross Income (AGI) doesn't exceed $29,000. Independent students' (and their spouse, if married) AGI also can't exceed $29,000.

Who qualifies for automatic zero EFC?

How do I get an EFC of 0 on FAFSA?

Anyone included in the parents' household size (as defined on the FAFSA) received benefits during 2019 or 2020 from any of the designated means-tested federal benefit programs or • Either of the parents is a dislocated worker. If these circumstances are true, the Expected Family Contribution is automatically zero.

What is the automatic zero student aid index?

The student aid index is automatically set to zero if the student is eligible for the maximum Pell Grant.

Do independent students get EFC?

This means the Federal Student Aid office does not use parents' or guardians' financial information to calculate independent students' EFC. As such, independent students may qualify for more aid (assuming they have a lower EFC). Several factors determine whether someone qualifies as an independent student.

The Expected Family Contribution (EFC) Explained

Why is my EFC high when I am independent?

A high EFC is likely the result of high income or a high value of assets as reported on the FAFSA. Assets considered include bank account balances, capital gains and, sometimes, equity held in businesses and real estate.

What qualifies a student as independent?

You can only qualify as an independent student on the FAFSA if you are at least 24 years of age, married, on active duty in the U.S. Armed Forces, financially supporting dependent children, an orphan (both parents deceased), a ward of the court, or an emancipated minor.

What is the lowest student aid index?

SAI reframes the result of the FAFSA calculations to more accurately describe a measure used to determine aid eligibility and compare students when limited funding is available. Additionally, while the EFC had -0- as its lowest possibility, the SAI can go to -1500.

Who determines your student aid index?

The Student Aid Index (SAI) is an eligibility index number that your college's or career school's financial aid office uses to determine how much federal student aid you would receive if you attended the school. This number results from the information that you provide on your FAFSA^® form.

Why does my financial aid say 0?

An Expected Family Contribution (EFC) of 0 simply means that one has a financial need of 100% of the total cost of attendance at that school. This student will likely qualify for a full Pell Grant and other need-based federal money.

What does EFC 000000 mean?

What does it mean if my EFC is 00000? If your EFC has a string of “0s” it means that your Expected Family Contribution is $0. This means that the college does not expect your family to contribute any amount of money to your education.

Does a low EFC mean more financial aid?

Low: If your EFC is low, you are more likely to receive a larger need-based financial aid package. You could look for colleges that offer significant need-based financial aid packages.

What does an EFC of 7000 mean?

This shows that you're eligible for $7,000 in need-based aid. EFC also affects your eligibility and award amounts for federal need-based aid programs.

Who qualifies for Pell grants 2024?

Minimum Pell Grant Eligibility Criteria

The student's parent is not a single parent and has an AGI less than or equal to 275% of the poverty guideline for the applicant's family size and state of residence.

What is the highest student aid index?

Students qualifying for a maximum Federal Pell Grant will have an SAI between –1500 and 0.

Does EFC need to be at or below $5846?

A significant requirement for the Pell Grant is having financial need. Anyone with an Expected Family Contribution (EFC) at or below $5,846 has a financial need and is eligible for the grant. Your EFC is calculated by looking at: your family size.

What 4 factors determine how much aid a student will receive?

Aid Amount: Who Decides and How

Your eligibility depends on your Student Aid Index (2024–25 FAFSA form) or Expected Family Contribution (2023–24 FAFSA form), your year in school, your enrollment status, and the cost of attendance at the school you will be attending.

How do universities calculate EFC?

The student's EFC is determined by adding the student and spouse's contribution from available income to their contribution from assets and then dividing the sum by the number in college.

How do schools calculate EFC?

How is the EFC calculated? EFC is calculated by looking at how much money your family has, how big your family is, and how many people in your family are in college.

What are bad grades for financial aid?

Students lose eligibility for federal student aid if they are no longer maintaining satisfactory academic progress, regardless of financial need. There are no special exceptions to the satisfactory academic progress requirements for low-income students.

Why is my estimated student aid index negative?

Students with a negative or 0 SAI are eligible for the maximum Federal Pell Grant. The difference is that a negative SAI indicates that a student has a higher need than a student with 0 SAI. This information can be used to prioritize how other grants with limited funding are distributed to students.

Is a high student aid index good or bad?

A higher SAI leads to less financial aid, while a lower SAI increases eligibility for need-based financial aid. The new financial aid formula is similar to the old one, Financial Need = COA – SAI – EFA, where COA is total college costs and EFA is estimated financial assistance from non-federal sources.

How do I know if I am a dependent or independent student?

Your answers to questions on the FAFSA form determine whether you're considered a dependent or independent student. Your dependency status determines whose information you need to report when you fill out the FAFSA form. If you're a dependent student, you'll report your and your parents' information.

How do I prove I am an independent student?

To be considered independent on the FAFSA without meeting the age requirement, an associate or bachelor's degree student must be at least one of the following: married; a U.S. veteran; in active duty military service other than training purposes; an emancipated minor; a recently homeless youth or self-supporting and at ...

Is it better to be an independent or dependent student?

In general, independent students may have greater scholarship and grant opportunities available since they are evaluated based solely on their income and assets, making them eligible for need-based aid that is not available to dependent students.