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Tip of the Week |
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August 25, 2021 |
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Last of its kind |
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It's hot off the presses, but it's going to soon become a collector's item. The Department of Education today announced the publication of the 2022-2023 EFC Formula Guide. This should be the last EFC Formula Guide published (unless something changes) because the Student Aid Index (SAI) will replace the EFC with the 2023-2024 FAFSA (available on Oct. 1, 2022). In the August 25 announcement, the Department said the guide includes EFC worksheets and tables for the 2022-23 processing cycle, which can be used to calculate an estimated EFC for students. The methodology for determining the EFC is found in Part F of Title IV of the Higher Education Act of 1965, as amended (HEA). | ||||||||||||||||
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