Fafsa Aid Calculator

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FAFSA Student Aid & SAI Estimator

Estimate your Student Aid Index (SAI) and potential financial aid eligibility.

Estimation Results

Student Aid Index (SAI): $0
Estimated Financial Need: $0
Max Federal Pell Grant Estimate: $0

Note: This is an unofficial estimate based on the Simplified Student Aid Index formula. Actual results from the Department of Education may vary.

Understanding FAFSA and the Student Aid Index (SAI)

The Free Application for Federal Student Aid (FAFSA) is the gateway to federal, state, and institutional financial aid. Starting with the 2024-2025 academic year, the Department of Education replaced the "Expected Family Contribution" (EFC) with the Student Aid Index (SAI). This new metric determines your eligibility for need-based grants, work-study programs, and loans.

How the SAI is Calculated

The SAI is calculated using a formula established by law. It takes into account several financial factors:

  • Adjusted Gross Income (AGI): The combined income of parents and the student.
  • Asset Assessment: A percentage of parental and student assets (excluding the primary residence and retirement accounts).
  • Household Size: The number of people living in the home who receive more than half of their support from the parents.
  • Income Protection Allowance: A set amount of income that is shielded from the calculation to cover basic living expenses.

What Does Your Result Mean?

Your SAI can range from -1,500 to 999,999. A lower or negative SAI indicates a higher level of financial need. Unlike the old EFC, the SAI no longer divides the parent's contribution by the number of family members in college, though individual colleges may still consider this for their own institutional aid.

Practical Example

If a college has a total Cost of Attendance (COA) of $40,000 and your SAI is $5,000, your "Financial Need" is $35,000. Colleges use this number to build a financial aid package that may include the Federal Pell Grant (maxing at approximately $7,395 for the 2024-2025 year), subsidized loans, and merit scholarships.

Tips for Maximizing Your Aid

1. Apply Early: Many states and colleges have limited funds distributed on a first-come, first-served basis.
2. Report Assets Correctly: Do not report your primary home, life insurance, or qualified retirement plans (like a 401k) as assets on the FAFSA.
3. Check for State Deadlines: While the federal deadline is usually in June, many states have deadlines as early as February or March.

function calculateFAFSA() { // Get Input Values var sIncome = parseFloat(document.getElementById('studentIncome').value) || 0; var pIncome = parseFloat(document.getElementById('parentIncome').value) || 0; var assets = parseFloat(document.getElementById('totalAssets').value) || 0; var hhSize = parseFloat(document.getElementById('householdSize').value) || 1; var numCollege = parseFloat(document.getElementById('numInCollege').value) || 1; var coa = parseFloat(document.getElementById('coa').value) || 0; // 1. Income Protection Allowance (IPA) – 2024/25 Approximation // A simplified table for HH size var ipa = 0; if (hhSize === 1) ipa = 20000; else if (hhSize === 2) ipa = 28000; else if (hhSize === 3) ipa = 35000; else if (hhSize === 4) ipa = 42000; else if (hhSize === 5) ipa = 49000; else ipa = 49000 + ((hhSize – 5) * 5500); // 2. Student Income Allowance var studentIPA = 9410; // Standard 2024-25 allowance for dependent students // 3. Calculated Contributions var effectiveParentIncome = Math.max(0, pIncome – ipa); var parentContributionFromIncome = effectiveParentIncome * 0.22; // Using the low-tier bracket (22%) var effectiveStudentIncome = Math.max(0, sIncome – studentIPA); var studentContributionFromIncome = effectiveStudentIncome * 0.50; // Students are assessed more heavily // 4. Asset Contribution // Parent asset protection is significantly reduced in current rules, simplified 5.6% var parentContributionFromAssets = assets * 0.056; // 5. Total SAI Calculation var totalSAI = parentContributionFromIncome + studentContributionFromIncome + parentContributionFromAssets; // Federal floor for SAI is -1500 if (totalSAI < -1500) totalSAI = -1500; // 6. Estimated Need var need = Math.max(0, coa – totalSAI); // 7. Pell Grant Estimation (Simplified based on SAI thresholds) // Max Pell for 24-25 is $7,395 var maxPell = 7395; var estPell = 0; if (totalSAI <= 0) { estPell = maxPell; } else if (totalSAI < maxPell) { estPell = maxPell – totalSAI; if (estPell < 740) estPell = 0; // Minimum Pell threshold } else { estPell = 0; } // Display Results document.getElementById('resSAI').innerHTML = '$' + Math.round(totalSAI).toLocaleString(); document.getElementById('resNeed').innerHTML = '$' + Math.round(need).toLocaleString(); document.getElementById('resPell').innerHTML = '$' + Math.round(estPell).toLocaleString(); document.getElementById('fafsaResultBox').style.display = 'block'; }

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