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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 ...
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] While the minimum EFC was zero, the SAI can be a negative number as low as -1500. [3]
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)
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 ...
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The FAFSA Simplification Act was a part of the Consolidated Appropriations Act, 2021. Students who are military veterans and active duty service members may apply for financial aid by filing a FAFSA even if they also apply for education and housing benefits offered by the Post-9/11 G.I. Bill and its
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.
The Department of Education has found another problem impacting some college financial aid forms that could further delay students’ aid awards, leaving them in limbo as they decide where to ...