Fafsa Calculator

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FAFSA Calculator (Student Aid Index Estimator)
Dependent Student (Includes Parent Info)Independent Student
Estimated Student Aid Index (SAI):
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function toggleInputs(){var status=document.getElementById('dependency_status').value;var pInc=document.getElementById('parentIncomeRow');var pAss=document.getElementById('parentAssetRow');if(status==='independent'){pInc.style.display='none';pAss.style.display='none';}else{pInc.style.display='table-row';pAss.style.display='table-row';}}function calculateSAI(){var status=document.getElementById('dependency_status').value;var pInc=parseFloat(document.getElementById('parent_income').value)||0;var pAss=parseFloat(document.getElementById('parent_assets').value)||0;var sInc=parseFloat(document.getElementById('student_income').value)||0;var sAss=parseFloat(document.getElementById('student_assets').value)||0;var hSize=parseFloat(document.getElementById('family_size').value)||1;var sai=0;var steps="";if(status==='dependent'){var ipa=25000+(hSize*4500);var discretionaryIncome=Math.max(0,pInc-ipa);var pc=discretionaryIncome*0.22;var ac=Math.max(0,pAss-10000)*0.05;var sc=(Math.max(0,sInc-9000)*0.5)+(sAss*0.2);sai=pc+ac+sc;steps="Income Protection Allowance (IPA): $"+ipa.toLocaleString()+"
Parent Contribution (PC): $"+pc.toFixed(2)+"
Asset Contribution (AC): $"+ac.toFixed(2)+"
Student Contribution (SC): $"+sc.toFixed(2);}else{var scInc=Math.max(0,sInc-12000)*0.5;var scAss=sAss*0.2;sai=scInc+scAss;steps="Student Income Contribution: $"+scInc.toFixed(2)+"
Student Asset Contribution: $"+scAss.toFixed(2);}if(sai< -1500)sai=-1500;document.getElementById('resultValue').innerHTML=Math.round(sai).toLocaleString();var pellMsg="";if(sai<=0){pellMsg="Likely eligible for Maximum Pell Grant";}else if(sai<6000){pellMsg="Likely eligible for Partial Pell Grant";}else{pellMsg="May not qualify for Pell Grant; eligible for loans/work-study";}document.getElementById('pellStatus').innerHTML=pellMsg;if(document.getElementById('showSteps').checked){document.getElementById('stepsOutput').style.display='block';document.getElementById('stepsOutput').innerHTML="Breakdown:
"+steps;}else{document.getElementById('stepsOutput').style.display='none';}}

How to Use the FAFSA Calculator

The FAFSA calculator is an essential tool for prospective college students and their families to estimate the Student Aid Index (SAI). Starting with the 2024-2025 academic year, the SAI replaced the old Expected Family Contribution (EFC) model. This calculator uses simplified versions of the Federal Student Aid formulas to give you a ballpark figure of what you might be expected to contribute toward education and what federal grants you may qualify for.

To get an accurate estimate, you should have your most recent tax returns (Adjusted Gross Income) and records of your current liquid assets available.

Adjusted Gross Income (AGI)
Found on your IRS Form 1040, this represents your total income minus specific adjustments.
Assets
Includes cash, savings, and checking accounts, as well as the net value of investments and certain businesses.
Household Size
The number of people living in your household who receive more than half of their support from the parents (for dependents) or the student (for independents).

How It Works: The SAI Formula

The Student Aid Index is calculated by looking at the financial strength of the student and their parents. It is a needs-analysis tool used by colleges to determine how much federal student aid you are eligible for. The core formula for a dependent student is:

SAI = Parent Contribution + Student Contribution from Income + Student Contribution from Assets

  • Income Protection Allowance (IPA): A portion of the parents' income is protected for basic living expenses and is not counted toward the SAI. This amount increases based on household size.
  • Asset Conversion: A small percentage (typically around 5.64% for parents) of non-retirement assets are considered available for education.
  • Negative SAI: Unlike the old EFC, the SAI can be as low as -1,500, which helps colleges identify students with the highest financial need.

Calculation Example

Example: A family of 4 with a dependent student. The parents have an AGI of $70,000 and $10,000 in savings. The student has no income or assets.

Step-by-step estimate:

  1. Parent Income: $70,000.
  2. Income Protection Allowance: For a family of 4, the allowance might be approximately $35,000 (standardized).
  3. Discretionary Income: $70,000 – $35,000 = $35,000.
  4. Contribution from Income: $35,000 x 22% = $7,700.
  5. Contribution from Assets: $10,000 in assets often falls under the asset protection threshold for many families, but if not, $10,000 x 5.64% = $564.
  6. Resulting SAI: $7,700 + $564 = 8,264.

Common Questions

Is the SAI different from the EFC?

Yes. The EFC (Expected Family Contribution) was replaced by the SAI (Student Aid Index). Key differences include the ability for the SAI to be negative (-1,500) and changes to how the number of family members in college affects the calculation.

Does the FAFSA look at my home value?

No, the value of your primary residence is not counted as an asset on the FAFSA. However, other real estate or rental properties you own must be reported.

Who should use this FAFSA calculator?

Any high school senior, current college student, or adult learner planning to attend a post-secondary institution in the United States should use this to estimate their federal financial aid eligibility.

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