![]() ![]() If that parent is remarried the new spouse will be included as well. Oftentimes only one of the parents will be on the financial aid forms. If parents are divorced or separated, whose information is used for calculating financial aid?ĭetermining which parent belongs in the financial aid forms can be relatively complicated for families that are divorced, separated or blended. Each college’s financial aid office makes the final decision on how much you’ll have to pay and how much need-based financial aid you’ll receive. I have often seen families end up paying substantially more or substantially less than their SAI. It’s closer to say that your SAI is an estimate of what colleges might think your family can afford to pay toward college based on your current income, assets, and other resources. The SAI is not necessarily the amount you will pay. If the SAI is $10,000, does that mean we will have to pay $10,000 as parents? The old name led many families to believe that the EFC was the amount they would be expected to pay toward college rather than an estimate of their financial need. Beginning in 2023, EFC was renamed to SAI to avoid confusion over what the number actually means. ![]() There is no difference between SAI and EFC. What is the difference between Student Aid Index (SAI) and Expected Family Contribution? What you will actually end up paying at a given school will be determined by that school’s financial aid office. It’s closer to say that your SAI is an estimate of what schools might determine your family can afford to contribute toward college, including current income and assets, college savings, and other resources. Your SAI is not necessarily the amount that you will actually pay for college. Schools use it to help determine your eligibility for need-based financial aid and how much aid they will offer you. It measures a student’s and family’s ability to pay for college. Your SAI is a number that is calculated and shown during the process of submitting your Free Application for Federal Student Aid (FAFSA). The Student Aid Index (SAI), formerly known as Expected Family Contribution (EFC), is used as part of the financial aid process at most colleges and universities. FAQ – Frequently Asked Questions What is the Student Aid Index (SAI) or Expected Family Contribution (EFC)? ![]()
0 Comments
Leave a Reply. |