Posted Date:July 5, 2016
|Author:||Jeff Baker, Director, Policy Liaison and Implementation, Federal Student Aid|
Subject: Federal Need Analysis Methodology for the 2017 - 2018 Award Year
On May 24, 2016 a Federal Register notice was published and posted on the IFAP website to announce the annual update to the tables used in the statutory Federal Need Analysis Methodology that determines a student’s expected family contribution (EFC) for award year 2017 – 2018.
We have discovered an error for one of the tables that were published. Specifically, a row of information was missing from the “Education Savings and Asset Protection Allowance“ table for parents of dependent students where the age of the older parent is “25 or less”. The missing row of information is as follows:
|PARENTS OF DEPENDENT STUDENTS|
|If the age of theolder parent is||And they are|
|Then the education savings and asset protection allowance is|
|25 or less…………………….||0||0|
We will be publishing a new Federal Register notice correction in the next few weeks.