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What Is the Student Aid Index?
The Student Aid Index helps colleges determine how much financial aid you can get after filling out the FAFSA.
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Eliza Haverstock is NerdWallet's higher education writer, where she covers all aspects of college affordability and student loans. Previously, she reported on billionaires and investing for Forbes in New York, and she also covered private markets for PitchBook in Seattle. Eliza got started at her college newspaper at the University of Virginia and interned for Bloomberg, where she spent a summer writing a feature story about plastic straws. She is based in Washington, D.C.
Laura McMullen assigns and edits content related to personal loans and student loans. She previously edited money news content. Before then, Laura was a senior writer at NerdWallet and covered saving, making and budgeting money; she also contributed to the "Millennial Money" column for The Associated Press. Before joining NerdWallet in 2015, Laura worked for U.S. News & World Report, where she wrote and edited content related to careers, wellness and education and also contributed to the company's rankings projects. Before working at U.S. News & World Report, Laura interned at Vice Media and studied journalism, history and Arabic at Ohio University. Laura lives in Washington, D.C.
Lisa Mulka is a freelance writer specializing in personal finance content. With more than 15 years of writing experience, Lisa most recently authored a book on personal financial literacy and served as lead writer on the FDIC’s Money Smart for Young People program. She holds a bachelor’s in creative writing, and master’s degrees in written communication and in educational technology. Lisa lives with her husband and two children in Michigan, where she spends her free time teaching the next generation of writers at Johns Hopkins University Center for Talented Youth.
Contributing Writer
The Student Aid Index, or SAI, is a measure that colleges use to determine a student's ability to pay for school. It also determines the amount of financial aid students can receive.
Students receive an SAI after submitting the Free Application for Federal Student Aid (FAFSA).
How is the Student Aid Index calculated?
The index equals the sum of you and your parents’ (or spouse’s) total financial resources, minus annual living expenses.
The information you input on the FAFSA about you and your family’s financial profile determines your SAI. In most cases, the FAFSA automatically pulls this information from your tax return.
Once you submit the FAFSA and the Education Department processes the form, you’ll receive your FAFSA Submission Summary, which details the information you included on the application and your SAI.
Students must submit the FAFSA each year they are in school to unlock federal student loans, Pell Grants, work-study and even some private scholarships.
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NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
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NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
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NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
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NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
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NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
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NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
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SAI is used as part of the equation for financial need. Financial aid officers subtract your SAI and other financial assistance from the cost of attendance. Your cost of attendance at a certain school includes tuition, fees and room and board.
The financial aid eligibility equation essentially looks like this: Cost of attendance – SAI = financial need
Your SAI can range from -1,500 to 999,999. A lower SAI indicates a higher level of financial need and makes it more likely that you'll qualify for financial aid, like the need-based Pell Grant.
For example, if your cost of attendance is $30,000 and your SAI is -$1,500, your estimated financial need would be $31,500.
Colleges aren’t required to meet 100% of your financial need, though some do. In addition to need-based aid like grants or scholarships, your financial aid package may also include federal student loans, which you repay in the future. Some types of aid, such as work-study, might also be limited at your school.
