FAFSA Terms
SAI
Student Aid Index
When did the 2024/2025 FAFSA Form open?
December 2023
Is the FAFSA the only way to get financial aid?
No
Scholarships
CSSProfile
Gifts
Loans
What are Need-Based Scholarships?
Based on information provided on FAFSA and/or CSS Profile. Some scholarships ask for additional information to verify need
What fees are associated with Direct Cost?
Tuition
- Fees (ex: transportation, supplies, athletics, etc..)
- Housing (Room)
- Meal Plan (Board)
- Health Insurance*
Contributor
Anyone responsible for the student. Parent, Guardian, etc.
Does the FAFSA Have 150 million a year for students? True or False?
150 Billion
How does a college calculate need-based scholarships?
Based on information provided on FAFSA and/or CSS Profile. Some scholarships ask for additional information to verify the need
What does COA Stand For?
Cost of Attendance
Do contributors and students both have an FSA I.D?
YES
Family Size
Family size will be based on the number of tax exemptions claimed on the tax form(s) transferred into the FAFSA. If the family size has changed since filing the 2022 tax forms, a family size question will allow for reporting the updated family size.
Tax information will be directly imported into the FAFSA. True or False
True
How many colleges use CSS Profile?
Used by nearly 400 colleges and scholarship programs to award non-federal aid.
True or False- Is Health Insurance included in Direct Cost?
True
Can you access the FAFSA form without an FSA I.D.?
No
What does FAFSA stand for?
Free Application for Federal Student Aid
How many colleges can you add to your new FAFSA Form?
20
What are Merit-based Scholarships?
Based on students Test Scores and Academics
What are Scholarships?
Gifts are offered by schools, employers, individuals, private companies, nonprofits, communities, religious groups, and professional and social organizations. For most, a separate application is needed.
TCOA-SAI= ?
NEED
What does CSS Profile stand for?
College scholarship service Profile
What is Net Price?
The cost after FIN Aid is taken from the cost of attendance.
What kind of Aid is CSS Profile
None Federal Aid
What is Bright Futures, and what are the two tiers of support?
Scholarship program. GPA/Test Score/Community service hours stipulation. 100% tuition or 75% tuition
COA-FIN AID= ?
NET PRICE