How to Calculate a Pell Grant Award Based on EFC

The Federal Pell Grant awards need-based financial aid to low- and middle-income undergraduate students. Receiving the Pell Grant can significantly decease your need for other types of financial aid, such as federal or private student loans. Determining your Pell Grant award depends on several factors, including your school's cost of attendance and your expected family contribution (EFC). For the 2011-12 academic year, students with extremely low EFCs can receive up to $5,550 of the Pell Grant award.

Things You'll Need

• Expected family contribution
• Cost of attendance

Instructions

1. Find your EFC. The Department of Education sends your Student Aid Report (SAR), which contains your EFC, by mail if you submitted your FAFSA on paper. If you submitted it electronically, access your SAR online at the FAFSA website.

2. Locate your school's cost of attendance. Search your school's financial aid website first to determine if the information is listed. The COA includes specified amounts -- as determined by your school -- for tuition and fees, books, supplies, transportation and other expenses, all based on your enrollment status (e.g. full-time, half-time). Call your school's financial aid office. Ask the financial aid officer or representative for your exact cost of attendance.

3. Go to the Federal Student Aid's Information for Financial Aid Professionals' website. Clickk on the "Worksheets, Schedules and Tables" section and open the Federal Pell Grant Payment Schedule chart for the current academic year. Scroll through the charts and find the one labeled with your correct enrollment status, such as "Full Time," "Three-Quarters Time" or "Half-Time."

4. Look at the top row of the Pell Grant chart and find the range in which your EFC falls. Move down this column until you reach the row that contains the range for your COA in the far left Cost of Attendance column. The amount listed in the box at which you stopped equals your Pell Grant award for the school year.

5. Divide the award amount by the number of terms in your academic year. This represents the approximate Pell Grant amount you'll receive each term.

Tips & Warnings

• Your school may publish an abridged version of the official Pell Grant Payment Schedules.

• Your Pell Grant award may be reduced if you change your enrollment status or drop out altogether during the school year.

References

• Federal Student Aid; Title IV Programs; June 2010
• "Federal Student Aid Handbook"; Volume 3, Chapter 3: Calculating Pell and Iraq and Afghanistan Service Grant Awards; 2010-11
• "Federal Student Aid Handbook"; Volume 3, Chapter 2: Cost of Attendance (Budget); 2010-11
• Information for Financial Aid Professionals (IFAP): 2011-12 Pell Grant Payment and Disbursement Schedules
• The University of Georgia Office of Student Financial Aid: Federal Pell Grant
• Clarendon College: Financial Aid

Resources

• Federal Student Aid: Information for Financial Aid Professionals (IFAP)
• Federal Student Aid: FAFSA