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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 Student Aid Index (SAI) is what the FASFA uses to calculate how much a student can afford to pay that academic year. However, the Education Department announced that the SAI calculations weren ...
The Free Application for Federal Student Aid (FAFSA) is a form completed by current and prospective college students (undergraduate and graduate) in the United States to determine their eligibility for student financial aid.
In the college financial aid process in the United States, a student's "need" is a figure that colleges use when calculating how much financial aid to offer a student. It is determined by taking the college's Cost of Attendance, which current rules require each college to specify. Then it is subtracted the student's Expected Family Contribution ...
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)
You can complete the Free Application for Federal Student Aid (FAFSA), which opened in December 2023 instead of October, to determine how much federal aid you potentially qualify for in the ...
In general, the agency that authorized the aid award is responsible for reporting aid information to NSLDS. Direct Loans are reported by a Direct Loan servicer , Federal Family Education Loan Program loans are reported by their guarantor, Perkins loans are reported by schools (or their agent), and grants are reported by the U.S. Department of ...
The FAFSA4caster estimates your federal financial aid award before you apply, helping you to compare the cost of attendance at multiple colleges. Plus, you can take steps to maximize the amount of ...