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Annotated Bibliography

Author(s):General Accounting Office
Title:Student financial aid: Need determination could be enhanced through improvements in education's estimate of applicants state tax payments
Source:http://www.gao.gov/new.items/d05105.pdf
Date:2005
Organization:
Short Description:Suspension of the 2003 tax allowance update resulted in continued use of 1988 IRS tax data. Had the update been implemented in 2004–2005, the allowance would have decreased for most states, resulting in EFC increase of about $500, on average, for a majority of aid applicants.
Annotation:In 2003, the Department of Education proposed an update to the state tax allowance as a part of the federal need analysis for student financial aid. Suspension of the 2003 update resulted in continued use of 1988 IRS tax data. Had the update been implemented in 2004–2005, the allowance would have decreased for most states, resulting in EFC increase of about $500, on average, for a majority of aid applicants.
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Documents
Financial Aid

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