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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]
The FAFSA starts normally starts accepting applications on Oct. 1 every year for the following year. Since some need-based aid goes out on a first-come, first-served basis, you could get more aid ...
The Free Application for Federal Student Aid, better known as the FAFSA, has long been due for an update. ... SAI. The SAI is a number that estimates the applicant’s ability to pay for college ...
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 attending a college, the student has a financial need (as the term is used in the U.S. financial aid system).
Call 1-800-433-3243 to obtain a PDF of the form; The Higher Education Opportunity Act of 2008 authorized fee-based FAFSA preparation. [10] By law, fee-based FAFSA preparation services must on initial contact with students inform them of the free option and be transparent about their non-affiliation with the U.S. Department of Education and ...
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.
The Education Department announced an update to the SAI tables that will allow students to benefit from an additional $1.8 billion in aid. (Credit: Getty Images) (Richard Stephen via Getty Images)
The FAFSA update is slated to add an additional $1.8 billion in need-based student aid, but colleges and universities won’t receive the new information until March, according to the DOE.