how much money you have to make per year to be eligible for the federal student aid grant? the grant you don’t have to pay it back? i know there is a limit to be eligible for a the grant . does any body know ? or if there like a chart that showing how much money you make and how much money you get ?? and is there other types of grants that i can apply for if am going to college ? i don’t wana any student loan becuase i can’t pay it back.
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The only way to know for sure if you qualify for grants is to complete the FAFSA (Free Application for Federal Student Aid). Either apply online at http://www.fafsa.ed.gov/ or call your college’s financial aid office, and they should be willing to mail you an application. Once the financial aid office receives the information from your FAFSA, they will be able to tell you what type of federal and campus grants you qualify for. Generally speaking, if you were born after Jan 1, 1982, your parent’s income will also be taken into grant consideration. If you were born before that date, just your income and assets will be reviewed. In order to complete the FAFSA, you will need your income tax information from 2006. I’ve worked as a financial aid counselor for many years, and there isn’t a pell grant chart to use that will tell a student whether he or she qualifies for free money. Also, your financial aid office should be the best resource for other financial aid questions. That’s what they are there for. Good luck!
The above person is incorrect regarding the age where your parents income isn’t taken into consideration anymore. The age is 24 years old, and then your parents income doesn’t make a difference.
I saw the above person edited her answer, but it is still incorrect. I was born after Jan 1, 1982, and I’m 24 and do NOT have to put my parents income.
Your question should actually say, “How much money shouldn’t I make to be eligible for federal student grants”
Because the answer to that is easy, “AS LITTLE AS POSSIBLE” There really isn’t a set amount, or a flowchart or anything. The application is looking at some key points when determining your eligibility, like
How many people are in your family
How many people in your family are in college
Family income – earned and unearned
Family assets
How expensive the school is
Full vs. Part time enrollment
Honestly, I’ve seen the formula and its as long as your arm to calculate… it’s easier to fill out the fafsa and have the EFC # calculated for you. (It will give this to you immediately on your conformation page). The lower your EFC, the better chances you have of getting federal and state grants. A zero EFC would give you the full Pell, an EFC over about 4111 and you would not be eligible for the Pell grant (But you may be eligible for other types of fin aid). Here is a good publication regarding eligibility and other types of fin aid.