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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 ...
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)
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 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.
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 ...
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 ...
Recent changes have altered when the Fafsa form may be filed as well as factors which determine federal student aid eligibility. Here is what to know. FAFSA is changing for 2024.
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