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What does SAI mean in financial aid?

I'm diving into the financial aid info for colleges and came across the term 'SAI.' What does SAI mean in this context, and how does it affect the financial aid I might receive or apply for?

8 months ago

The term SAI in the context of financial aid stands for Student Aid Index. It's used in the federal financial aid process to measure a student or family's financial strength and determine eligibility for financial aid.

The SAI functions somewhat similarly to the previous Expected Family Contribution (EFC), though there are some key differences. Previously, the EFC was calculated and divided by the number of students in a family attending college. However, SAI operates independently of the number of family members in college. This change is important to note, as families with more than one student in college at a time will no longer receive any 'discount' or reduction in their financial responsibility.

Another significant change is that the SAI can be as low as negative $1,500. This is a departure from the EFC, which had a minimum of $0. A negative SAI indicates that a student has more financial need, potentially making them eligible for additional aid beyond the maximum Pell grant.

The SAI is determined through the Free Application for Federal Student Aid (FAFSA), which examines factors such as income, assets, and number of family members to calculate the SAI. This calculation directly impacts the amount and types of federal student aid for which a student may be eligible, including grants, work-study, and loans.

Remember, while the SAI can give you an estimate of your expected contribution, the actual cost or financial aid package may vary from college to college based on their individual policies. Therefore, it's always beneficial to conduct thorough financial planning and research into each school's policy when considering college affordability.

8 months ago

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