A Pell grant is money the goverment gives to your school to help you pay for tuition, books, fees, dorm, living expenses… etc. It is FREE money that you do not have to pay back. The max Pell grant is 4731 a year. You have to meet strict guidelines (so don’t count your chickens before they hatch), but there is no repayment.

With an EFC this low, you will qualify for a Pell, just not the full amount… less than 1,000 a semester… but still, it’s better than a polk in the eye.

You will also qualify for Stafford loans, and if your parents are willing to take out PLUS (parent) loans for you you will have this option.

Your school will give you a detailed “Award Letter” giving you the exact amounts of your finanical aid.