Grants

[Tara with socks]

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1.Does anyone know the formula schools use to determine grant money?
2. Do most schools give grant money?

I received grant money which came to about 13% of my total budget. I am trying to figure out if this is typical. I had efc of 0 ands parents efc < 18,000.

 

[TMP-SMX]

1. School dependent
2. Most do give some kind of grant/need-based scholarship. There are also 5% Perkins federal loans.

Everyone's face-value EFC is 0 and not the real number because it is an automatic 0. Running a calculator or using your school's financial aid office forms to calculate personal and parental EFC will show you what your real EFC is. Either way, what are you worrying about? You got a good amount of grants. A vast majority of individuals don't get any.