Publication Date: July 17, 2006
Author: G. Kay Jacks, General Manager, Application, Operations and Delivery Services, Federal Student Aid
Summary: HERA Operational Implementation Guidance (CPS, COD System, EDExpress Suite) -- Availability of July 2006 Update to 2006-2007 EFC Formula Guide
Posted on 07-17-2006
Federal Student Aid is pleased to announce the availability of the July 2006 version of the 2006-2007 EFC Formula Guide, which includes updated Expected Family Contribution (EFC) worksheets and tables for the 2006-2007 processing cycle. This version includes changes to EFC calculations as a result of the Higher Education Reconciliation Act of 2005 (the HERA), Pub. L. 109-171. More information on the HERA is described in Dear Colleague Letter GEN-06-05 (http://www.ifap.ed.gov/dpcletters/GEN0605.html). Detailed information on HERA changes that affect the EFC calculation is also described in Dear Colleague Letter GEN-06-10 (http://ifap.ed.gov/dpcletters/GEN0610.html).
The worksheets and tables in this guide can be used to calculate an estimated EFC for students. The methodology for determining the EFC is found in Part F of Title IV of the Higher Education Act of 1965, as amended (HEA).
The updated 2006-2007 EFC Formula Guide is available in PDF format on the Information for Financial Aid Professionals (IFAP) Web site. For readers who are viewing this message electronically on IFAP, the updated guide is provided as an attachment to this message. Otherwise, to view, print, or download the document from IFAP, go to http://ifap.ed.gov and click on "Application Processing Materials" or "Higher Education Reconciliation Act of 2005 (HERA) Information" from the right side of the home page.
If you have any questions regarding the information contained in this document, contact CPS/SAIG Technical Support at 800/330-5947 (TDD/TTY 800/511-5806), or by e-mail at CPSSAIG@ed.gov.