This guidance is specific to the 2024-25 award year and later.
No. The expected family contribution (EFC) and student aid index (SAI) are very different in how they are calculated and used to determine Federal Pell Grant eligibility.
For example, currently under federal methodology for 2023-24, if a student has an EFC of 100, the student will not receive the maximum Pell Grant of $7,395. However, in reviewing the Pell Grant Payment and Disbursement Schedule, the student would receive $7,345, as long as their cost of attendance (COA) was greater than the maximum Pell Grant of $7,395.
For 2024-25, there is no longer a Pell Grant Payment and Disbursement Schedule. Instead, there is a maximum Pell Grant and a minimum Pell Grant, both with different criteria based on adjusted gross income (AGI), family size, and poverty guidelines for the state of legal residence. There are also students who fall in the middle, whose Scheduled Award will be calculated by subtracting their SAI from the annual maximum Pell Grant amount.
While there is no direct EFC-to-SAI chart or table, NASFAA created a Student Aid Index Modeling Tool for schools to run aggregate comparisons using data from their student populations. Additionally, the U.S. Department of Education (ED) has stated they will publish an SAI Estimator Tool in September of 2023.
AskRegs Q&As represent NASFAA's understanding of regulatory and compliance issues. They are FOR INTERNAL USE ONLY. While NASFAA believes AskRegs Q&As are accurate and factual, they have not been reviewed or approved by the U.S. Department of Education (ED). If you should need written confirmation of AskRegs information for audit or program review purposes, please contact your ED School Participation Division. NASFAA shall not be liable for technical or editorial errors or omissions contained herein; nor for incidental or consequential damages resulting from the furnishing, performance, or use of this material.
Join NASFAA and receive full member access to the AskRegs Knowledgebase and question services.Learn More