I have 2 kids and am applying for the pellgrant. EFC's are 3589 and 3617, how much $ can we expect to get?

Answer 1

Pell Grant amounts are calculated using a table ("Pell Schedule") that the Department of Education publishes annually. The 07-08 Pell Schedule has not been released yet, as the DOE is still toying with some changes to the entire Pell program (they might increase the maximum award). With the *current* year's table, your childrens' Pell Grants would only be about $500 and $400, respectively. The "cutoff" EFC for Pell is $3850, so you're right on the cusp of becoming ineligible. At that level, every dollar counts, so go over your FAFSA carefully to make sure you haven't made any mistakes and, if necessary, submit a correction online at http://www.fafsa.ed.gov