* Expected Family Contribution (EFC): This is a measure of how much your family is expected to contribute to your education. A lower EFC means greater financial need.
* Student's income and assets (if applicable): This includes the student's own earnings, savings, and investments.
* Parent's income and assets (if applicable): For dependent students, the parents' income and assets are also considered. The definition of "dependent" varies by age and other circumstances.
* Family size: Larger families generally have higher EFCs, potentially reducing their eligibility for Pell Grants.
* Number of family members in college: Having multiple family members in college at the same time can impact the EFC.
* Cost of attendance at the institution: The Pell Grant is based on the cost of attending the specific college or university the student is enrolled in.
It's important to note that Pell Grants are awarded based on a formula that considers all these factors. There are also limits on the amount a student can receive each year, and students must maintain satisfactory academic progress to remain eligible.