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After an applicant’s FAFSA is processed, he or she receives the FAFSA Submission Summary (formerly known as the Student Aid Report), which includes the SAI. The SAI is a number that estimates ...
There are a number of free calculators on the Web to help applicants estimate the EFC before filing the FAFSA. Recipients of need-based financial aid must reapply for each year by completing a new FAFSA. The term and concept of Expected Family Contribution was replaced by the term Student Aid Index (SAI) in 2024. [2]
Students who have filled out the FAFSA in previous years already have an account. Wallace said it's a good idea to log on before the application opens to make sure your information is up to date.
The cost of one year at an in-state, four-year college keeps rising each year — surpassing $20,000 during the 2016-2017 school year.
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To qualify for need-based aid a student must have a significant amount of financial need, which is determined by the federal government based on the FAFSA. Using the information submitted on the FAFSA, the U.S. Department of Education calculates a figure called the Expected Family Contribution (EFC). If the EFC is less than the cost of ...