SAI is the number calculated, with information from the FAFSA, to determine a student's eligibility for college financial aid.
And don't forget about the multiple kids in college discount if it applies. Most people are not the W-2 wage holders and perfect credit family. For those people who are self-employed and receive K-1 income, sometimes the number in Box 14 that the colleges ask for is not an accurate...
And, as part of the FAFSA simplification, families will no longer get a break for having multiple children in college at the same time, effectively eliminating the "sibling discount." They had to have something available even if it wasn't ready for prime time. Kalman Chany author of The Pr...
Families with more than one student in college could be dinged because of the new calculation, which gets rid of a discount for parents with multiple children in college during the same year. That could hit families with multiple college-age students, experts say. "Essentially, they wou...
The multi-child discount for families that have multiple children in college is eliminated. The family business and farm asset values will be added to the asset calculation. For divorced and separated parents, the parent who supplies the larger amount of financial support should be the FAFSA-submi...
FAFSA has always given families with multiple children in college a little extra help. But starting with the 2024-2025 school year, that “sibling discount” will no longer exist. This will mostly impact middle- and higher-income families, who are likely to have the means to send mul...
assess a student's financial need; more students should get access to Pell grants; and the discount for parents with multiple kids in college will go away."I would love to see opportunities more for grants, not loans," McConnell said.One of the most confusing changes is for kids with ...
consider applying for private student loans. Private student loans don’t come with some of theadvantages of federal student loans, like advantageous interest rates and flexible repayment terms. Still, they can be a useful tool for plugging gaps you may have in your ability to pay for college....
(It's important to note that the new FAFSA formula no longer considers the number of family members attending college simultaneously, which may reduce the amount of aid families receive if they have multiple children in college.) Each of these elements affects the calculation for...
Students who are the first in their families to attend college and those from low-income families tend to have complicated financial situations. I know this firsthand: When I applied for college, my financial support was being cobbled together from multiple family members in a situation that woul...