Federal Need Analysis Methodology for 2001-2002

The U.S. Department of Education (ED) recently issued a Federal Register, dated May 30, 2000, announcing the annual updates to the tables used in the statutory "Federal Needs Methodology" to determine a student's expected family contribution (EFC) for award year 2001-2002.  An EFC is the amount a student and his or her family may reasonably be expected to contribute toward the student's postsecondary educational costs for purposes of determining financial aid eligibility.

The Federal Register provides new data elements to four of the EFC tables-the Income Protection Allowance, the Adjusted Net Worth of a Business or Farm, the Education Savings and Asset Protection Allowance, and the Assessment Schedule and Rates.  Additional information regarding the Federal Need Analysis Methodology may be obtained by contacting Edith Bell,  ED's Program Specialist, at (202) 708-5591.
 
A copy of the Federal Register can be found on ED's web site at http://ifap.ed.gov.  If you are unable to access this web site and would like a hard copy of the notice, please contact Lynda Reid at (801) 321-7211.  Any questions regarding this Bulletin can be directed to the UHEAA Policy and Training Department at (801) 321-7166 or by e-mail at cjudd@utahsbr.edu.