How much will I get from the Pell Grant?

I am not qualified for pell grant, what can I do? How much tax refund will I get if I pay out of pocket?

• -I just received my finical aid information and I got an EFC of 6050 for 2012 -My Tax was filed about 10 days ago - income of $25100~ -My 2010 income was only $9700 because I got my first job in May and took two months off -I got $4500 in pell grant for 2011 and I paid about $3k out of pocket for fall of 2011 and spring of 2012 of my school -I am single, not living with parents - I pay $400 a month for a room at a house Questions: Why am I not eligible for pell grant this year? Is there anything I can do? Tax was filed and accepted and I just found out that I am not eligible..did I make too much last year? I am planning to graduate this year so I am planning to take summer, fall, and 2013 spring..that would be about $10k out of my pocket!!! If I really did pay that much, how much tax "refund" would I get? I got about $3500 in tax refund last year I guess it is because I paid for like $2000 for my tuition out of pocket (subtracted pell grant) and my job pays A LOT OF TAX! I am only getting like 12 an hr (after tax) and supposly I am getting 16.5 an hr! Please give me some suggestions and tell me what I did wrong!

• Answer:

  Your income is too high to qualify for a pell grant. There is nothing you can do about that. You don't qualify. As far as taxes, no one can tell you that without doing your taxes for you. You don't get a tax refund of everything you pay for college. There are limits on what you can get from the various credits.