7-05: Federal Need Analysis Methodology for the 2017 - 2018 Award Year

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 the older parent is And they are
  Married Single
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.

 

Publication Date: 7/5/2016


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