Federal Methodology is a formula used to calculate the amount of money that you and your family are expected to pay for college. This formula, established by Congress, is used nationwide for all students. The most important factors in the formula are the income and assets of you and your parents, and the size of your family.
Federal methodology is a formula that was created by Congress and is used to determine financial need when an individual applies for federally funded student aid with the Free Application for Federal Student Aid (FAFSA).
Formula developed by Congress and defined by statute, used to assess both the parents' and student's income and assets in order to determine the Expected Family Contribution. Does not consider the home or the family farm as an asset.
A standard method of calculating how much a family should be expected to contribute toward college costs. All the federal funds are awarded based on this need analysis formula.
A standard method of determining ability to pay for education, as contained in written statutes, which must be used to determine eligibility for Title IV (Department of Education) funds.
A national standard of need analysis authorized by the 1992 Reauthorization of the Higher Education Act.
The federal formula defined by Congress that is used to determine your expected family contribution.
The generally accepted method used to calculate a family's expected contribution to college costs for federal aid purposes. Depending on the individual college's policy, the federal methodology may also be used to determine eligibility for money under the school's control.
The need analysis formula mandated by federal law to determine a family's Expected Family Contribution (EFC).
Submenu The Federal Methodology (FM) is the need analysis formula used to determine the EFC. The Federal Methodology takes family size, the number of family members in college, taxable and nontaxable income, and assets into account.
The need analysis formula used to determine the Estimated Family Contribution (EFC). The Federal Methodology takes family size, the number of family members in college, taxable and nontaxable income, and assets into account. Unlike most Institutional Methodologies, however, the Federal Methodology does not consider the net value of the family residence.
See Federal Need Analysis Methodology.
A formula, defined by statute, that is used to determine the expected family contribution (EFC) for federal financial aid.
A formula used to calculate the amount of money that you and your family are expected to pay for college. This formula, established by Congress, is used nationwide for all students. The most important factors in the formula are: the income, assets and net worth of your parents; your income and assets; and the size of your family.
The need analysis formula used to determine a family's expected family contribution. The Federal Methodology considers family size, the number of family members in college, taxable and nontaxable income and assets.
A formula established by Congress to determine EFC and federal financial aid eligibility. The formula takes into consideration income, assets, expenses, family size, and other factors to help evaluate a family's financial strength.
(or federal formula) - The federal calculation that is used to determine a student's EFC. This formula is used to figure out a student's eligibility for federal grants, loans and/or work-study grants. Many states use the same formula to determine a student's eligibility for state grants, and many colleges use it to award their need-based scholarships. Federal Work-Study Program - A student work program on college campuses that enables students to work during the school year to earn money to help cover their expenses. Federal work-study jobs are awarded to students based on financial need.
The formula authorized by the Higher Education Act for determining a student's Expected Family Contribution. All federal financial aid is based on this needs analysis.
The formula according to which a student's eligibility for Federal Title IV funds is determined. The formula takes into account income, some assets, expenses, family size, and other factors.
a federal formula used to take student/family income and asset information and convert it into an estimate of the student/family contribution to cover college costs.
The need analysis formula mandated by law to determine a student's eligibility for student aid programs.
Federal Methodology is the federally prescribed system of need analysis written into law by Congress as part of the Higher Education Amendments of 1992. Federal Methodology became effective in 1995 and applies to all need-based federal financial aid programs.
Federal methodology is the method used to determine a family's expected contribution towards college costs for federal financial aid purposes.
