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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]
Revised Need Analysis Formula: The methodology for calculated need was changed from the Expected Family Contribution (EFC) to the Student Aid Index (SAI). The SAI removes the number of family members in college from the calculation and has a minimum value of -1500 as compared to zero for the EFC.
In the college financial aid process in the United States, a student's "need" is a figure that colleges use when calculating how much financial aid to offer a student. It is determined by taking the college's Cost of Attendance, which current rules require each college to specify. Then it is subtracted the student's Expected Family Contribution ...
The Federal Student Aid office announced 200,000 FAFSA applicants received incorrect financial aid packages that need to be recalculated and resubmitted to college financial aid offices.
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.
Seal of the United States Department of Education National Center for Education Statistics logo (USA). The National Postsecondary Student Aid Study (NPSAS) is a study conducted every four years by the National Center for Education Statistics, [1] a division of the Institute of Education Sciences in the U.S. Department of Education.
Research from EducationData.org shows that almost 44 million Americans hold an average federal student loan debt balance of $37,717. Combined, student loan debt in the U.S. adds up to $1.744 trillion.
Federal Student Aid (FSA), an office of the U.S. Department of Education, is the largest provider of student financial aid in the United States. Federal Student Aid ...