Using FM Simulation

You can simulate different Federal Methodology (FM) need analysis scenarios before submitting ISIR Corrections. The FM Simulation process retrieves information from the ISIR Correction pages and Federal Extension page. You can create or change existing federal extension data or global policy option data in simulation depending on your processing requirements.

Note:

This topic relates to using FM Simulation for the 2024-2025 and future Aid Years. For information about FM Simulation for the 2022-2023 and 2023-2024 Aid Years see Using FM Simulation for the 2023-2024 and 2022-2023 Aid Years.

This section provides an overview of the steps for the simulation process and discusses how to:

• Work with student income and assets.

• Override global policy options at the student level.

• Work with student information.

• Work with parent income and assets.

• Work with parent information.

• Work with assumption overrides.

Note:

For the 2023-2024 and prior Aid Years, the result of both the Federal Methodology (FM) and Institutional Methodology (IM) calculations for the amount of money that a student and his family are expected to contribute is referred to as Expected Family Contribution (EFC); FM EFC and IM EFC.

For the 2024-2025 and future Aid Years, FM calculation result is referred to as the Student Aid Index (SAI); replacing the FM EFC.