Welcome to college-help.us where you can find information about the amount of money you will receive from the Federal Pell Grant. The Pell Grant is a federal grant sponsored by the United States Department of Education. It was established to assist low-income students to pay for college.
The Pell Grant amount is calculated by a student’s EFC score, which is short for Expected Family Contribution. The EFC score is a measure of a family’s financial strength and is calculated according to a formula established by law. Your family’s taxed and untaxed income, assets, and benefits (such as unemployment or Social Security) are all considered in the formula. Also considered are your family size and the number of family members who will attend college or career school during the year.
The information you report on your Free Application for Federal Student Aid (FAFSA) is used to calculate your EFC. Schools use the EFC to determine your federal student aid eligibility and financial aid award. The EFC score is not the amount of money your family will have to pay for college nor is it the amount of federal student aid you will receive. It is a number used by your school to calculate the amount of federal student aid you are eligible to receive.
The maximum amount for the 2010-2011 (July 1,2010 – June 30, 2011) award year is $4,731. In February 2009, President Barack Obama signed into law The American Recovery and Reinvestment Act of 2009, which caps the Pell Grant amount at $5,350 in the 2009-2010 school year.