Which number is used by schools to determine student financial aid eligibility?

Study for the EverFi Financial Literacy for High School Test. Prepare with questions and answers, detailed explanations, and comprehensive resources to ensure success!

The Student Aid Index (SAI) is the correct answer because it represents the amount a family is expected to contribute toward the educational costs of a student. It is calculated based on the financial information provided in the Free Application for Federal Student Aid (FAFSA). This index helps schools assess a student's financial need, which is essential for determining eligibility for need-based financial aid, scholarships, and grants. The SAI reflects the family's financial situation and is crucial for schools when allocating financial resources to support students in their pursuit of higher education.

In contrast, the Expected Family Contribution (EFC) is an older term and methodology that has generally been replaced by the SAI in recent financial aid calculations. The Financial Aid Index (FAI) is not widely recognized as a key factor in financial aid assessments, and the Academic Eligibility Index (AEI) typically pertains to academic performance rather than financial need. Thus, the SAI is the primary number used in determining student financial aid eligibility.

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