“Form and Formula: How the Federal Government Distributes Aid to Students” explains the history of need analysis—the method used to determine the amount of federal aid a student receives—and the method of collecting financial data from students and families. The system of determining need began with colleges and universities each establishing how best to distribute institutional aid while using their own forms to collect data, and evolved to the creation of a robust, national form and formula regulated by the federal government.
This 13-minute film closely follows this evolution by documenting the passage of several seminal pieces of higher education legislation and following the diverse efforts of institutions, associations, and policymakers in determining the best form and formula to use when providing students and their families with money for college.
The Expected Family Contribution (EFC) is a number that determines students’ eligibility for federal student aid. In the Fall of 2015, the president announced two major changes to the Free Application for Federal Student Aid (FAFSA) process, which this paper discusses.
New rules on applying for financial aid will benefit students, but the process will be trickier this year. The following paper documents the changes and its impact on college-bound students.
This report created by the Congressional Research Service describes the need analysis formulas used to calculate the Expected Family Contribution (EFC) for federal student aid applicants.
This article explains how colleges or career schools listed on the Free Application for Federal Student Aid (FAFSA) will calculate the financial aid that college-bound students are eligible for.
