Posts Tagged ‘Student Aid Index’
FAFSA change for small business owners
Add small business owners to the group of people impacted by the recent FAFSA changes. Previously, the value of any privately held business, including assets, with less than 100 employees did not need to be reported on the FAFSA as part of its small business exclusion. However, that exclusion has gone away as part…
Read MoreStudent Aid Index eligibility guide for 2025-26
The new FAFSA for the 2025-26 school year is scheduled to open on Dec. 1, 2024, (delayed from Oct. 1), and the Department of Education has provided this guide on the formula. The guide both explains the formula for the Student Aid Index (SAI), as well as eligibility for Pell Grants. The SAI number…
Read MoreInsider Tips for the week of June 8, 2024
Explaining the SAI – One of the biggest mistakes we see families make in the college process is that they assume the number the FAFSA (or FAFSA projectors) provides them as their “student aid index” is what they will pay for college. Unfortunately that is not the case! Here are 5 important things to know about the student…
Read MoreInsider Tips for the week of February 3, 2024
Insider tips for building the college list (part two) – The College Inside Track Consulting Team for effectively building a strong college application list. FAFSA mistake fixed but data further delayed – The huge mistake on the new, redesigned FAFSA will be fixed, but colleges won’t receive any student FAFSA information until sometime in March, further delaying a process that…
Read MoreStudent Aid Index (SAI) – 5 things to know
You fill out the FAFSA, which gives you your Student Aid Index (SAI), which is how much your family will pay for college. Seems simple right? Ah, but like most things with the college process, that is unfortunately not the case. Here are 5 things every family should know about that SAI. 1…
Read MoreFAFSA error means less financial aid for families
The new, redesigned FAFSA that will launch by the end of 2023 has a calculation error that will result in most families qualifying for less financial aid than lawmakers intended. The legislation that drove the FAFSA overhaul called for an increase to the amount of income that was shielded from the FAFSA calculation, otherwise…
Read MoreFAFSA delayed
The FAFSA form for students entering or attending college in Fall 2024 would normally open on Oct. 1, but has been delayed until sometime in December due to the significant new changes being implemented. The Department of Education needs more time to update the application and the various calculations related to the updates. This also…
Read MoreFAFSA changes
The COVID relief bill passed at the end of 2020 also included some significant changes to the FAFSA. The changes go into effect for the 2024-25 school year. The FAFSA for that school year opens on October 1, 2023 and will use tax information from 2022. And because the FAFSA is completed each year…
Read MoreFAFSA change for families with multiple students
At first glance, the recent changes to the FAFSA appear to be a good thing: A simpler form with far fewer questions, increased financial aid eligibility for low income families, and a formula change reducing any penalty for grandparents who contribute to college. But another formula change could prove to be extremely painful to…
Read More