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The FAFSA Simplification Act impacts all college students, regardless of their income and financial situation. In some cases, financial aid will increase substantially for students, while others ...
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]
The SAI is a number that estimates the applicant’s ability to pay for college, generated based on the information provided on the FAFSA. Colleges compare an applicant’s SAI with the cost of ...
If you miss a state deadline, submit your FAFSA as soon as possible, then reach out to your state’s financial aid agency to ask about your options. There’s a possibility that you still could ...
Federal Student Aid is also responsible for the development, distribution, and processing of the Free Application for Federal Student Aid (FAFSA), the fundamental qualifying form used for all federal student aid distribution programs, as well as for many state, regional, and private student aid programs. Each year Federal Student Aid's staff ...
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.
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 ...
To make changes or add a school to the FAFSA, an applicant needs to log in to his or her FAFSA account and select the option Make FAFSA Corrections. Alternately, applicants can send up to four ...