There are a lot of questions about the FAFSA Simplification Act and the shift from EFC to SAI. One of the ones we keep hearing from our university partners is "What about the dairy farms?"
So we set out to answer that. And to find some cute cow photos to go with it.
The shortest answer is that the shift to SAI is going to cause some challenges for small business and farm owners - in fact, some families may be expected to pay up to 5X more than they did before. Which then creates more problems for Directors of Financial Aid because some families are going to need more support than they did before. Just another thing to figure out!
Don't worry, we've got you covered: We put together a quick reference guide you can use to figure out what these changes might look like. It includes a table you can use to calculate the marginal rate based on net worth as well as some examples of what that means in practice. So you can use this as an internal tool or to guide conversations with families -- because we know they are going to have questions too!
You can download it here.
Reach out if you have questions or ideas for other resources you need.