"Changing it to the student aid index is a more appropriate use of terminology because ... it helps the student to understand that the college is going to use that number to determine their eligibility for financial aid," says Kenneth Ferreira, vice president fo...
The Student Aid Index (SAI) is used to help determine how much federal student aid a student may be eligible to receive. Continue reading to learn more.
What is SAI?The Student Aid Index (SAI) is a replacement for Expected Family Contribution (EFC) and is a calculation of the amount of need-based financial aid a student is eligible to receive.What is EFC?Expected Family Contribution (EFC) was an assessment of a student’s family’s ...
For students who fill out an online FAFSA, the Student Aid Report will be available online, and changes can be submitted over the Internet as well. This option is much faster than filing a paper document, and it can ensure that all of a student's materials are in by the financial aid ...
An end to the sibling discount Going forward, the Department of Education will no longer give families a break for having multiple children in college at the same time, effectively eliminating the "sibling discount." "The elimination of the multiple student adjustment is one of the many tectonic...
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Most no-loan colleges aim to cover each family’s demonstrated financial need – the difference between the cost of attendance and the expected family contribution, now called the Student Aid Index. The amount of need-based aid that a school offers is usually determined by the infor...
In fact, the average monthly student loan payment is currently $393, which can be an overwhelming expense if you're struggling to make ends meet. But fall into the habit of missing your student loan payments and you run the risk of your loans eventually going into default, which has major...
student What’s the SAVE Plan for federal student loans? The Saving on a Valuable Education (SAVE) Plan is the new Income Driven Plan (IDR) to potentially aid Americans with repaying their federal student loan debt. Continue, What’s the SAVE Plan for federal student loans?
An applicant’s eligibility for needs-based financial aid is determined by subtracting both the Student Aid Index (SAI) and Other Financial Assistance (OFA) from theCost of Attendance (COA). The difference between the COA and the SAI plus the OFA will be the applicant’s financial need, as ...