Fin Aid Calculator

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College Financial Aid & SAI Calculator

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

Estimated Student Aid Index (SAI): $0
Total Cost of Attendance: $0
Estimated Financial Need: $0

Understanding the Financial Aid Calculation

Navigating the cost of higher education requires a clear understanding of how institutions determine what a family can afford. This calculator uses a simplified model of the Student Aid Index (SAI) formula, which replaced the Expected Family Contribution (EFC) starting in the 2024-2025 academic year.

What is the Student Aid Index (SAI)?

The SAI is an eligibility index number used by financial aid offices to determine how much federal student aid you may receive. It is calculated using information provided on your FAFSA® (Free Application for Federal Student Aid). The number is not the amount of money your family will pay, nor is it the amount of student aid you will receive; it is a metric used to determine need-based aid eligibility.

How Financial Need is Determined

The core formula for financial aid is straightforward:

Cost of Attendance (COA) – Student Aid Index (SAI) = Financial Need

  • Cost of Attendance: Includes tuition, fees, room and board, books, and travel.
  • Financial Need: The gap that the college attempts to fill with grants, scholarships, work-study, and subsidized loans.

Factors That Impact Your Aid

Several variables influence the final calculation:

  1. Income Protection Allowance: A portion of your household income is "protected" for basic living expenses and is not considered available for college costs. This amount increases based on the number of people in your household.
  2. Asset Contribution: Typically, 5.64% of parental assets (excluding primary residence and retirement accounts) are factored into the SAI.
  3. Household Size: Larger families generally have a lower SAI because their basic cost of living is higher.

Example Calculation Case Study

Consider a family of four with one student in college. If the household income is $80,000 and they have $10,000 in savings, their estimated SAI might be around $9,500. If the college they choose costs $40,000 per year, their Financial Need would be $30,500 ($40,000 – $9,500). The school would then offer a financial aid package to help meet that $30,500 gap.

Tips to Maximize Your Aid

To ensure you receive the maximum aid possible, consider the following strategies:

  • Submit the FAFSA Early: Many states and colleges have limited funds that are awarded on a first-come, first-served basis.
  • Check Asset Requirements: Retirement accounts like 401(k)s and IRAs are generally not counted in the federal formula.
  • Appeal if Circumstances Change: If your family experiences a job loss or high medical bills, contact the college financial aid office for a professional judgment review.
function calculateAid() { var coa = parseFloat(document.getElementById('coa').value) || 0; var income = parseFloat(document.getElementById('income').value) || 0; var assets = parseFloat(document.getElementById('assets').value) || 0; var houseSize = parseFloat(document.getElementById('houseSize').value) || 1; var numCollege = parseFloat(document.getElementById('numCollege').value) || 1; // Income Protection Allowance (Simplified Table) var ipa = 0; if (houseSize === 1) ipa = 20000; else if (houseSize === 2) ipa = 26000; else if (houseSize === 3) ipa = 32000; else if (houseSize === 4) ipa = 38000; else if (houseSize === 5) ipa = 45000; else ipa = 45000 + ((houseSize – 5) * 5000); // Effective Income Calculation var effectiveIncome = income – ipa; if (effectiveIncome 1) { sai = sai / numCollege; } // Final Need Calculation var financialNeed = coa – sai; if (financialNeed < 0) financialNeed = 0; // Format and Display document.getElementById('resSAI').innerText = '$' + Math.round(sai).toLocaleString(); document.getElementById('resCOA').innerText = '$' + Math.round(coa).toLocaleString(); document.getElementById('resNeed').innerText = '$' + Math.round(financialNeed).toLocaleString(); document.getElementById('aidResult').style.display = 'block'; }

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