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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 ...
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]
Scholarships may have a financial need component but rely on other criteria as well. Some private need-based awards are confusingly called scholarships and require the results of a FAFSA (the family's EFC). However, scholarships are often merit-based, while grants tend to be need-based. Some examples of grants commonly applied for in the U.S.:
One form covers both semesters of the school year with payments issued every quarter or semester. The date of filing depends on where you live, but it is recommended to file as soon as possible.
The original FAFSA form had 108 questions, which was a significant barrier for many low-income families seeking financial aid. [22] The questions were broadly seen as excessively detailed and unnecessarily complicated, with students being required to dedicate several hours to completing their application.
The new FAFSA form will come out by Dec. 31, but there's one thing students and families can do now to make the process easier. ... For example, a family with an adjusted gross income of $60,000 ...
Many schools and states use the FAFSA to determine student aid. The Free Application for Federal Student Aid, commonly known as the FAFSA, is a form that determines student aid eligibility for ...
The FAFSA Simplification Act makes it easier for students to receive Pell grants, linking eligibility to a student's family size and the poverty level set by federal guides.