Student Aid Modeling (SAI) Tool Results and Implications
Disclaimers : • The student population for respective data is from 2023-24
• Data is based on the # of pell grant recipients as of 10/20/2023 (the date that the SAI tool was extracted). • This model used prior-prior income based on the 2023-24 FAFSA and used the poverty guidelines from 2021. • The model used the baseline income protection allowance (IPA) and asset protection allowance (APA) tables from the new FAFSA Simplification Act Legislation. • This model is not a prediction, but, rather a model of what the SAI would look like as compared to the EFC for the 2023-24 award year. Actual results will vary and we will be able to predict as we begin to import 2024- 25 FAFSA’s Assumptions: • There are instances where: • The new formula requires data that is not currently asked on the FAFSA and is therefore not available. • The new formula required data that is currently asked on the FAFSA but the answer will be different for the 2024-25 award year. (household size, custodial parent, single parent household) • Pell grant amount estimates are based on the 2023-24 pell grant payment schedule; this is anticipated to change in the 2024-25 award year. 12
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