The Student Aid Index (SAI) replaced the Expected Family Contribution (EFC) formula utilized in previous FAFSA years. Today, students and parents will use this Student Aid Index (SAI) calculator to estimate their SAI for the designated school year. What is the Student Aid Index (SAI)? SAI is …
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Student Aid Index (SAI)
In 2024 the Free Application for Federal Student Aid (FAFSA) underwent changes to make the form simpler for students and their families. These efforts toward simplification made it easier for students to fill out the form, and thereby qualify for financial aid. The following changes were made to …
Student Aid Index (SAI) and FAFSA Submission Summary
In 2024, the Department of Education updated their methodology for determining Student Financial Aid and introduced the Student Aid Index (SAI) and the FAFSA Submission Summary. These replaced the previously used, Expected Family Contribution (EFC) and the Student Aid Report (SAR). Student Aid …
How to Appeal Financial Aid Award Packages
As thorough as the FAFSA is in its line of questioning, there are certain financial circumstances that it is unable to capture. Students and their families also face unforeseen events the year that they apply for the FAFSA, making it ineligible to include for that application cycle. In these …
Glossary of Financial Aid Terms
Below is our comprehensive glossary of commonly used terms related to Financial Aid. Understanding the various terms when reviewing financial aid documents and information is crucial. Utilize this glossary to build your knowledge of financial aid. Need terms in Spanish: English-Spanish Glossary of …
US State Government Aid
The Free Application for Federal Student Aid (FAFSA) is used to apply for most state loan, grant and scholarship programs, in addition to the federal loans and grants. When you submit the FAFSA to the US Department of Education, they forward the information on the form to the state student …
Quick EFC
The Quick EFC was a calculator tool used to determine eligibility for federal student financial aid. It is no longer being used and it has been replaced by the Student Aid Index (SAI). SAI is calculated using information provided on the Free Application for Federal Student Aid (FAFSA®) form. To …
Award Letter Requirements
Financial aid offices use the award letter to provide students and their families with information about the composition of the financial aid package, the cost of attendance, and the institution's financial aid policies and procedures. Financial aid administrators often wonder what information …
Helping Students use Finaid.org
Financial aid administrators and guidance counselors often find Finaid to be an invaluable tool for advising families about financial aid and related issues. Students and parents want instant answers 24 hours a day. Finaid provides the answers they need and even answers the questions they have not …
Detecting Fraud on Financial Aid Applications
The most common types of fraud will involve underreporting of income and assets and overstating the number of family members in college. Some families may even go so far as to provide a falsified copy of their income tax returns. Look for the following warning signs: Also compare the income …
