Is it good if my EFC is 0?

Is it good if my EFC is 0?

In some cases, the EFC may be 00000 or 0. This number isn’t a mistake. It just means that the government determined you qualify for all types of need-based financial aid.

What does it mean if my EFC is $0?

When your EFC is zero, you are eligible for almost all federal based aid programs available. This includes, Pell Grants, Federal Work-study programs, and Stafford loans. Students are generally awarded based on financial need, EFC, enrollment status, and cost of attendance.

What EFC is needed for Pell Grant?

$5,846
Income Limit 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 EFC qualifies for financial aid?

You can’t receive more need-based aid than the amount of your financial need. For instance, if your COA is $16,000 and your EFC is 12000, your financial need is $4,000; so you aren’t eligible for more than $4,000 in need-based aid.

What is the minimum GPA requirement for Cal Grant A?

2.40
— A minimum 3.00 high school GPA, or minimum 2.40 college GPA is required for Cal Grant A; a minimum 2.00 GPA is required for Cal Grant B.

Is a low EFC good?

A low EFC means you may be eligible for a larger financial aid package, while a high EFC means you may have to rely on unsubsidized loans to cover any costs your family can’t afford. Behind the scenes, the EFC you receive is based on a complicated formula.

What is the max income for Cal Grant A?

The size of the awards are linked to family income and assets. For Cal Grant A, commonly used at UC, recipients’ average family gross adjusted income before taxes is $47,531, although eligibility ends at $95,400 a year for a student from a family of four.