FAFSA & SAI: What Every U.S. College Applicant Should Know

For students who are seeking admission to colleges and universities in the United States, knowing the cost of their education is a significant part of the application process. At MyCollegely, we know that this can be a daunting task; nonetheless, it does not need to be. We will simplify two terms that are frequently used: 

FAFSA and SAI.

FAFSA, which stands for "Free Application for Federal Student Aid", is a form you fill out every year to request federal and institutional financial aid. It may come in the form of grants (free money), scholarships, work-study jobs, and low-interest student loans. FAFSA is your doorway to the majority of U.S. financial aid, and schools utilize it to decide what kind of aid they can offer you.

One important thing you receive from your FAFSA is your SAI, or "Student Aid Index". This number replaces what was formerly called the Expected Family Contribution (EFC).

The formula for calculating your SAI is derived from the financial data you report, including your family income, assets, and family size. It assists the schools in deciding the potential amount of the contribution your family may be able to make toward your education financing. The lower the SAI, the higher the need for finances, and therefore the likelihood of being eligible for assistance.

For instance, a student with an SAI of $0 indicates the highest level of financial need and may be eligible for the maximum amount of aid.

At MyCollegely, we're here to guide you through every step — from completing your FAFSA to navigating your aid choices. You don't have to figure it all out by yourself.

Connect with us at https://www.mycollegely.com

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