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Question: Does my income affect my FAFSA?

My parent's taxable income is only $5,000.00
My income is $28,000.00
I'm 19 years old and wanting to go back to school. I'm still considered a dependent student.

Here's my questions...

I filled out a FAFSA application when I wasn't making money and my EFC (estimated family contribution) was 0. Technically my EFC hasn't changed. Is the FAFSA completely based on my EFC or will income decide the amount I can get for grants, loans, etc??? Or does my income somehow effect my Estimated Family Contribution?

Thanks for the help!

Answer: Your income decides your EFC.

The reason why it hasn't changed is because you are still considered a low income family since your parents aren't making money, and your income is still below poverty level when you add your family members.

However, once you turn 24, if you don't have any children or dependents, with 28k, your efc probably going to be up in the 8 or 9 thousands and you won't qualify for pell.

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