Which one of the following statements is wrong? A Pell Grant is a federally funded grant awarded to undergraduate students who have not eamed a Bachelors or graduate degree. One type of Stafford loan is the FFEL Stafford Loan, where funds are lent to the student through a lender who participates in the FFEL program The EFC calculation, which is based on a student's ACT score, is used to determine eligibility and/or award amount for a Pell Grant One type of Stafford loan is the direct Stafford loan that is provided directly to the student from the Department of Education