On top of college decisions, students are also waiting to hear back about financial aid and FAFSA. The FAFSA application you submitted is used to calculate your estimated financial need. All the information you and your contributors provide on the FAFSA are used to see where you fall on the Student Aid Index.
The SAI is calculated as a number on a spectrum -- wherever you fall along that range is an estimate of the financial aid you might need. Your SAI is not:
a dollar amount you'll receive
what your family is expected to provide
your actual financial aid offer
During the FAFSA application, you will see an estimated SAI. After your FAFSA is processed, you will receive an official SAI within your FAFSA Submission Summary.
That information is provided directly to the schools you listed on your FAFSA application. The colleges and universities use that information to provide your Financial Aid Award Letter.
Your Financial Aid Award Letter or Package is usually a breakdown of the cost of tuition, housing, and other expenses and a breakdown of the financial aid you'll receive, including scholarships and grants from the university, federal aid such as grants, and options to take out federal loans. When we say "federal," we mean the federal government! That's the Free Application for Federal Student Aid (FAFSA) award.
Financial Aid Packages come directly from the schools you applied to! They often appear in your student accounts, so keep an eye on those emails and portals!