Financial Aid: Determining Eligibility at SAIC
The School of the Art Institute of Chicago (SAIC) prepares students’ financial aid packages once students’ Free Application for Federal Student Aid (FAFSA) applications have been reviewed, and it is confirmed that they have met all of the following eligibility requirements as prescribed by the federal government.
- Demonstrated financial need (except for certain loans)
- U.S. citizen or eligible noncitizen with a valid Social Security number
- Working toward a degree or certificate in an eligible program
- Demonstrated qualifications to enroll in postsecondary education such as having a high school diploma or a General Educational Development (GED) certificate
- Register (if you haven't already) with Selective Service, if you are a male between the ages 18 and 25
- Maintain satisfactory academic progress according to the SAIC Office of Student Financial Services
Expected Family Contribution (EFC)
The expected family contribution is the amount that parents and students are asked to contribute toward the cost of attendance. Actual expected family contributions and financial aid packages may vary based on individual family circumstances.
To determine the expected family contribution, SAIC uses the FAFSA. Information provided on the FAFSA allows SAIC, using federal guidelines, to consider your eligibility for grant assistance as well as for federal loans and work-study. A valid FAFSA is also required for disbursement of any federal aid.
Some of the factors used to determine eligibility for aid are:
- Taxable and nontaxable income
- Federal and state taxes
- Asset protection/educational savings allowance
- Family size
- Income protection allowance
- Number of family members in college
- Special circumstances reported by your family
You can estimate your family contribution for college by using the federal government's FAFSA4caster online tool before officially applying for student aid.