Parent Financial Information
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Student Financial Information
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Understanding FAFSA and Financial Aid
The FAFSA (Free Application for Federal Student Aid) determines eligibility for federal grants, loans, and work-study. The Student Aid Index (SAI, formerly EFC) is a number colleges use to estimate how much your family can contribute — it doesn't represent an actual bill, but it drives how much aid you receive.
How the SAI is Calculated
- Parent income: 22–47% of income above the income protection allowance is counted
- Parent assets: Up to 5.64% of eligible assets above the asset protection allowance
- Student income: 50% of income above $9,410 is counted
- Student assets: 20% of student assets are counted (vs 5.64% for parent assets)
How to Maximize Financial Aid
- File FAFSA as early as possible (opens October 1) — aid is first-come, first-served
- Minimize student assets — keep savings in parent accounts (lower assessment rate)
- Retirement accounts (401k, IRA) are excluded from FAFSA asset calculation
- Home equity is NOT counted on the FAFSA (though it may be on CSS Profile)
- Having multiple children in college simultaneously significantly reduces EFC/SAI
Frequently Asked Questions
What is the difference between SAI and EFC? ▼
SAI (Student Aid Index) replaced the term EFC (Expected Family Contribution) starting with the 2024–25 FAFSA, as part of the FAFSA Simplification Act. The calculation methodology changed significantly — including removing the multiple-student-in-college discount that used to reduce EFC. The SAI can now be negative (down to −1,500), indicating maximum aid eligibility. Many concepts remain similar but the formulas and data collection changed.
Can I appeal my financial aid package? ▼
Yes — this is called a "professional judgment" or financial aid appeal. If your circumstances have changed significantly from the prior tax year (job loss, medical expenses, divorce), you can contact the financial aid office directly with documentation and request a review. Many families successfully increase their aid award this way. Always appeal in writing with specific, documented circumstances.
Related Calculators
Estimated Financial Aid
Est. SAI / EFC
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Est. Financial Need
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Est. Annual Cost of Attendance
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Parent Income Contribution (estimated)—
Parent Asset Contribution (estimated)—
Student Contribution (estimated)—
This is a simplified estimate only. Actual SAI depends on many factors. Complete the official FAFSA at studentaid.gov for your actual determination. Private colleges may also require the CSS Profile which uses a different formula.