"If you’ve ever filled out the Free Application for Student Aid (FAFSA) before, you’re probably familiar with the stress, confusion and possible tears that often come with it," CNBC reports.
..."The student aid index (SAI) will serve the same purpose, but use a different formula. Unlike the EFC, the SAI will not not include the number of family members in college as part of the calculation. Federal Student Aid (FSA) published a draft of the calculations to be used to determine SAI.
Your SAI could be negative, down to a minimum of -$1,500. This allows colleges and aid administrators to determine the neediest students, rather than a cluster of students with a $0 EFC, according to the nonprofit National Association of Financial Aid Administrators."
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Publication Date: 4/11/2023