Need-based aid is awarded based on your financial need, which is a dollar amount. Your financial need is determined by taking the college’s full cost of attendance for one year and subtracting your SAI. Colleges try to fill in your financial need with need-based financial aid. If you receive additional scholarships from outside sources, colleges will assume that those scholarship can fill in part of your financial need. You can learn more about need-based aid in our blog post here: www.mefa.org/blog/what-is-needbased-financial-aid
Thanks for your question. It means that you are eligible to receive $14,200 in financial aid, but the college could decide to offer you less. The amount they offer is usually based on their financial aid budget and enrollment goals. You could use the college’s Net Price Calculator on their website to get an estimate of the financial aid you might receive, but that is also only an estimate. You will need to wait until you receive the college’s financial aid offer to find out what you have actually been offered in financial aid.
An SAI of 6,116 means that your eligibility for financial aid at any given school will be the difference between the school’s total cost (called the cost of attendance) and $6,116. So if a school’s cost of attendance equals $30,000, for example, then you would subtract $6,116 to calculate that you would be eligible for $23,884 in financial aid. But it will be up to each college to determine how much of your eligibility of financial aid they can provide for you.
An SAI of -1500 means that you are eligible for the most financial aid you can receive, which is equal to the full cost of attendance at the school. It does not mean you will receive financial aid equal to the full cost of attendance, as most colleges do not have the financial aid budget to provide that much financial aid, but you are eligible to receive as much financial aid as the school can provide. You are also eligible for a Pell Grant from the federal government.
@@user-ot4ti7cu4m Yes so same answer! An SAI of -1500 means that you are eligible for the most financial aid you can receive, which is equal to the full cost of attendance at the school. It does not mean you will receive financial aid equal to the full cost of attendance, as most colleges do not have the financial aid budget to provide that much financial aid, but you are eligible to receive as much financial aid as the school can provide. You are also eligible for a Pell Grant from the federal government.
Does your college cost $60,000 in total for 4 years, so $15,000 a year? Or does it cost $60,000 per year? If it’s $60,000 for one year, then the difference between that cost and your SAI, which is $46,883, is how much you would be eligible to receive in financial aid for one year. If your college is $15,000 per year, then you would be eligible to receive $1,883 in financial aid for one year.
The SAI helps colleges determine a student’s eligibility for financial aid. A negative SAI means that the student is eligible for financial aid equal to the full cost of attendance at the school, which is the most financial aid that a student could be eligible to receive. Keep in mind that it only determines a student’s eligibility for financial aid, and not necessarily what the student will receive. Reach out to us at (800) 449-6332 or collegeplanning@mefa.org if you have more questions, we’re here to help!
A -1500 SAI means you’re eligible for the most amount of financial aid. The amount you receive will vary from school to school depending on each school’s enrollment goals and financial aid budget, but you will at least receive the maximum amount of Pell Grant.
Colleges subtract your SAI from their total cost of attendance to calculate your financial aid eligibility. Cost of attendance includes tuition, fees, food, housing, books, supplies, equipment, and transportation.
Your SAI helps determine your financial aid eligibility. The higher your SAI, the lower your financial aid eligibility. Colleges will use your SAI to determine how much financial aid they can offer you. So, as an example, if a college has a Cost of Attendance of $80,000, they will subtract your SAI of $62,000, and the remaining difference, $18,000 is the maximum amount they can offer you in financial aid. The actual amount they do offer will be based on their enrollment goals and funding levels.
An SAI of 7 means that you are eligible for financial aid up to the amount equal to the school’s total cost of attendance minus 7. So if a college has a total cost of attendance for one year of $20,000, for example, then you are eligible for financial aid up to $19,993. The amount you actually receive in financial aid will depend on each college’s budget and enrollment goals.
Thank you! Very helpful
I like your kitchen. Also great video!
Can you elaborate on needs based aid ? And how that might be affected by additional scholarships ?
Need-based aid is awarded based on your financial need, which is a dollar amount. Your financial need is determined by taking the college’s full cost of attendance for one year and subtracting your SAI. Colleges try to fill in your financial need with need-based financial aid. If you receive additional scholarships from outside sources, colleges will assume that those scholarship can fill in part of your financial need. You can learn more about need-based aid in our blog post here: www.mefa.org/blog/what-is-needbased-financial-aid
Thank you!
So if my SAI is 3800 and my colleges cost of attendence is 18000 I will be able to get $14,200 in financial aid?
Thanks for your question. It means that you are eligible to receive $14,200 in financial aid, but the college could decide to offer you less. The amount they offer is usually based on their financial aid budget and enrollment goals. You could use the college’s Net Price Calculator on their website to get an estimate of the financial aid you might receive, but that is also only an estimate. You will need to wait until you receive the college’s financial aid offer to find out what you have actually been offered in financial aid.
Can you explain to me my son SAI of 6116? Please Good or bad?
Yours seems to be a high number so your need for financial aid will be lower
An SAI of 6,116 means that your eligibility for financial aid at any given school will be the difference between the school’s total cost (called the cost of attendance) and $6,116. So if a school’s cost of attendance equals $30,000, for example, then you would subtract $6,116 to calculate that you would be eligible for $23,884 in financial aid. But it will be up to each college to determine how much of your eligibility of financial aid they can provide for you.
what does it mean if my sai is -1500?
An SAI of -1500 means that you are eligible for the most financial aid you can receive, which is equal to the full cost of attendance at the school. It does not mean you will receive financial aid equal to the full cost of attendance, as most colleges do not have the financial aid budget to provide that much financial aid, but you are eligible to receive as much financial aid as the school can provide. You are also eligible for a Pell Grant from the federal government.
@MefaOrg Oh okay, thank you so much for answering
i was just about to ask this, mine also came out as -1500
@@user-ot4ti7cu4m Yes so same answer! An SAI of -1500 means that you are eligible for the most financial aid you can receive, which is equal to the full cost of attendance at the school. It does not mean you will receive financial aid equal to the full cost of attendance, as most colleges do not have the financial aid budget to provide that much financial aid, but you are eligible to receive as much financial aid as the school can provide. You are also eligible for a Pell Grant from the federal government.
my SAI was 13117 but my college is about 60,000 for four years, maybe less- is that bad?
Does your college cost $60,000 in total for 4 years, so $15,000 a year? Or does it cost $60,000 per year? If it’s $60,000 for one year, then the difference between that cost and your SAI, which is $46,883, is how much you would be eligible to receive in financial aid for one year. If your college is $15,000 per year, then you would be eligible to receive $1,883 in financial aid for one year.
@@MefaOrg yes, 15,000 per year. thank you!!
So is a -175 sai good? Thanks
The SAI helps colleges determine a student’s eligibility for financial aid. A negative SAI means that the student is eligible for financial aid equal to the full cost of attendance at the school, which is the most financial aid that a student could be eligible to receive. Keep in mind that it only determines a student’s eligibility for financial aid, and not necessarily what the student will receive. Reach out to us at (800) 449-6332 or collegeplanning@mefa.org if you have more questions, we’re here to help!
I got -1500...I'm scared
A -1500 SAI means you’re eligible for the most amount of financial aid. The amount you receive will vary from school to school depending on each school’s enrollment goals and financial aid budget, but you will at least receive the maximum amount of Pell Grant.
Does the SAI subtract from the base tuition or the total cost of living at the university?
Colleges subtract your SAI from their total cost of attendance to calculate your financial aid eligibility. Cost of attendance includes tuition, fees, food, housing, books, supplies, equipment, and transportation.
I got a 62000. That’s bad?
Your SAI helps determine your financial aid eligibility. The higher your SAI, the lower your financial aid eligibility. Colleges will use your SAI to determine how much financial aid they can offer you. So, as an example, if a college has a Cost of Attendance of $80,000, they will subtract your SAI of $62,000, and the remaining difference, $18,000 is the maximum amount they can offer you in financial aid. The actual amount they do offer will be based on their enrollment goals and funding levels.
@@MefaOrg thanks! I’m planning on going to umass Amherst anyway but this would have been nice if I went to BU or northeastern instead of
Best of luck! Please reach out to us at collegeplanning@mefa.org or at (800) 449-6332 if you have further questions!
my sai is 7
An SAI of 7 means that you are eligible for financial aid up to the amount equal to the school’s total cost of attendance minus 7. So if a college has a total cost of attendance for one year of $20,000, for example, then you are eligible for financial aid up to $19,993. The amount you actually receive in financial aid will depend on each college’s budget and enrollment goals.