Does anyone know the income scale FASFA uses to determine eligibility for assistance?

Answer 1

The formula that is used isn't really a scale and it's *definitely* not an *income* scale. We don't simply say, "OK, everyone with $50,000 in income will have a $10,000 EFC and get $3,500 in aid." $50,000 income, for one student, could mean a full Pell Grant while, for another student, $50K income could get them nothing but an Unsubsidized Stafford Loan.

The EFC formula takes much more factors into consideration beside income, including # in household, # in college, state of residence, age of older parent, assets, educational program, grade level, dependency status and so on...

The formula is long and would probably bore you to tears, but it's in the public domain so you can view it here: http://ifap.ed.gov/efcinformation/attachments/0708EFCFormulaGuide1120.pdf