When you apply for financial aid, you’ll provide personal demographic information, as well as financial information like bank statements and information on your family’s investments.
This financial information is used to determine your Student Aid Index (SAI). Your SAI is an index number that colleges use to determine how much federal financial aid you’re eligible to receive. Your SAI is calculated according to a formula established by law and the information from your FAFSA.
Your eligibility for aid depends on your Student Aid Index (SAI), your year in school, your enrollment status, and the cost of attendance (COA) at the school you'll be attending. The COA is the estimated cost to attend for one academic year and, if you attend at least half time, can include tuition, books, supplies, transportation, room and board, and other education related expenses.