How to Find Your EFC on the FAFSA Submission Summary
Navigate your FAFSA Submission Summary to locate your Expected Family Contribution (EFC) and understand its critical role in your college financial aid.
The Free Application for Federal Student Aid (FAFSA) is a foundational document for students pursuing higher education in the United States. Completing it unlocks access to various forms of federal financial assistance, including grants, scholarships, work-study programs, and federal student loans. Filing the FAFSA results in an index number, historically known as the Expected Family Contribution (EFC). This index provides colleges with a standardized measure of a student’s financial strength. This article guides you through finding and comprehending your Student Aid Index (SAI), the new term for EFC, on your FAFSA Submission Summary.
Understanding Your EFC
The Student Aid Index (SAI) is a calculated index number. It is not a direct amount a family is expected to pay for college, nor does it represent the amount of federal student aid a student will receive. Instead, the SAI is a standardized assessment of a family’s financial capacity to contribute towards educational expenses. Financial aid administrators at colleges use this index to gauge a student’s eligibility for need-based federal, state, and institutional aid programs.
A lower SAI generally indicates a higher level of financial need, which can lead to eligibility for more need-based financial assistance. Conversely, a higher SAI suggests a lesser financial need. The SAI is a consistent figure across all institutions, reflecting a family’s financial profile as determined by federal methodology. This consistency helps ensure an equitable distribution of available aid resources based on demonstrated financial strength.
Where to Find Your EFC
After submitting the Free Application for Federal Student Aid (FAFSA), filers receive the FAFSA Submission Summary. This document replaced the Student Aid Report (SAR) starting with the 2024-2025 award year and serves as the primary record of your FAFSA application. The FAFSA Submission Summary provides key details about your application, including your calculated Student Aid Index (SAI). Electronic filers typically receive access within one to three business days.
To access your FAFSA Submission Summary and locate your SAI, visit StudentAid.gov. Log in using your Federal Student Aid ID (FSA ID). From your dashboard or “My Activity” section, select your processed FAFSA submission to view its status and details.
Once you have selected your FAFSA, look for “View FAFSA Submission Summary.” Your Student Aid Index (SAI) will be prominently displayed at the top of the summary, typically under the “Eligibility Overview” tab. This section also provides a snapshot of your estimated federal student aid eligibility.
If a paper FAFSA was submitted without a valid email, the FAFSA Submission Summary may be mailed. Review all sections of the summary carefully for accuracy. The summary also contains a Data Release Number (DRN), which may be needed if a college’s financial aid office needs to make corrections on your behalf. If information on your summary is incorrect, you can initiate corrections directly through the StudentAid.gov website.
What Your EFC Means for Aid
The Student Aid Index (SAI) plays a central role in determining a student’s financial aid package. Colleges use this index to calculate a student’s financial need. Financial need is determined by subtracting your SAI from a college’s Cost of Attendance (COA). The COA includes tuition, fees, room and board, books, supplies, transportation, and personal expenses. The resulting figure represents the maximum amount of need-based aid a student can receive from federal, state, and institutional sources.
A lower SAI indicates greater financial need, potentially leading to eligibility for more need-based aid, such as federal Pell Grants, Federal Supplemental Educational Opportunity Grants (FSEOG), and subsidized federal student loans. Conversely, a higher SAI implies less financial need, which might result in eligibility for fewer need-based aid opportunities. Even with a higher SAI, students may still qualify for non-need-based aid, including unsubsidized federal student loans. The SAI helps financial aid offices create a tailored aid package that addresses the gap between a student’s ability to pay and the actual cost of attending a specific institution.
The same SAI can result in different aid packages across various colleges, primarily because each institution has its own unique Cost of Attendance. A college with a lower COA may require less financial aid to meet a student’s need, while a college with a higher COA might necessitate a larger aid package for the same student. Researching the COA at each prospective institution is important when evaluating potential financial aid offers. The SAI serves as a standardized baseline, allowing colleges to objectively assess a student’s financial circumstances and allocate aid resources accordingly.
Factors Influencing Your EFC
The Student Aid Index (SAI) is derived from a specific formula established by Congress. This formula systematically evaluates the financial information provided on the FAFSA to determine a family’s capacity to contribute to college costs. The calculation considers several key categories of financial and demographic data.
A primary factor is the income reported by both the student and, if dependent, their parents. This includes Adjusted Gross Income (AGI) from tax returns, as well as any untaxed income. While income carries significant weight, assets also play a role in the calculation. Reportable assets typically include cash, savings, checking accounts, and investments such as stocks, bonds, and mutual funds. Certain assets are excluded from this calculation, notably the equity in a primary residence, funds held in qualified retirement accounts like 401(k)s and IRAs, and the cash value of life insurance policies.
Beyond financial figures, family size is another important determinant, as it influences the income protection allowance, which accounts for basic living expenses. The number of family members simultaneously enrolled in college at least half-time also impacts the SAI, generally reducing the per-student expected contribution. The student’s dependency status, whether independent or dependent, significantly shapes which financial data elements are included in the calculation. Income is generally assessed more heavily than assets in the federal methodology.