ERIC Number: ED254170
Record Type: Non-Journal
Publication Date: 1984
Reference Count: N/A
The Family Contribution Formula, 1984-85.
Office of Student Financial Assistance (ED), Washington, DC.
A guide to the family contribution (FC) for federal student financial aid programs is presented. Information is provided on the steps of the U.S. Department of Education's version of the Uniform Methodology (UM), the system most frequently used by need analysis services and financial aid administrators to determine the family's ability to contribute to college costs. The UM calculation produces a number, the FC, based on analysis of the family's income and assets, with allowances for basic living expenses and extraordinary, nondiscretionary expenses. The FC is used chiefly to award aid from the campus-based programs (National Direct Student Loans, College Work Study, and Supplemental Educational Opportunity Grants). However, it can also be used for the Guaranteed Student Loan program. For dependent students, both the parents' contribution and the total student contribution are covered. For independent students, information is provided on income supplements and the contribution form taxable and untaxed income. Sample case studies for dependent and independent students are included, along with family contribution tables, worksheets, and line item references for the Student Aid Report/Application for Federal Student Aid. (SW)
Descriptors: Case Studies, Dependents, Federal Aid, Financial Aid Applicants, Grants, Guidelines, Higher Education, Income, Need Analysis (Student Financial Aid), Parent Financial Contribution, Records (Forms), Self Supporting Students, Student Financial Aid, Student Loan Programs, Work Study Programs
Publication Type: Guides - General; Tests/Questionnaires
Education Level: N/A
Audience: Administrators; Support Staff; Parents; Practitioners
Authoring Institution: Office of Student Financial Assistance (ED), Washington, DC.
Identifiers - Laws, Policies, & Programs: Guaranteed Student Loan Program; National Direct Student Loan Program