FAFSA SAI Question

[JukeBoxHeroo]

Can someone explain what the number they gave you for SAI means? I see that there is a range from -1500 to 999999. What does the number mean in reference to how much aid schools give regarding loans/grants

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[pablo213]

Can someone explain what the number they gave you for SAI means? I see that there is a range from -1500 to 999999. What does the number mean in reference to how much aid schools give regarding loans/grants

-1500 should allow you to get max amount of federal unsubsidized loans (20,500$ per year I think). As the SAI increases, that number decreases. I may be wrong, but I don't think med schools use the FAFSA for grants or anything outside student loan packages.

 

[RhymesWithFun]

-1500 should allow you to get max amount of federal unsubsidized loans (20,500$ per year I think). As the SAI increases, that number decreases. I may be wrong, but I don't think med schools use the FAFSA for grants or anything outside student loan packages.

For medical students apparently the limit for the Federal unsub loans is not capped at $20,500. Certain schools have and may offer you a "financial aid" package that includes more than $20,500 in Federal unsubsidized loans. "So worry not 🤡" they say

 

[Sandman23]

Reviving this thread after a month - is SAI solely determined on income level?

 

[eigen]

No one other than the federal government really knows how SAI is determined, or what it means.

And by "the federal government", I mean Susan, who sits in a basement office and is the keeper of all arcane equations and calculations for any government form. We rely heavily on Susan.

 

[eigen]

I kid, but even other federal agencies aren't getting clarity on how SAI is calculated or how to interpret it. It's making major issues for NSF/NIH funding that is intended for low-income students, since there's no longer any agreed on clarity on what that looks like.

SAI doesn't seem to have clear universal metrics for cutoffs: I'm seeing students who are Pell eligible with SAIs in the 6 figures, and students not Pell eligible with SAIs at $10k. It seems like the new metrics adjust for the poverty line to help account for high COL areas (officially, it seems to be 400% of the poverty line), but it's unclear what that looks like for a student with parents living in different places, or who lives in a different place than their parents.

Lots of questions, and very few answers at this point in time, especially with how to relate EFC to the new SAI figure.