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The federal financial aid formulas are heavily weighted toward income.
Also, retirement savings do not count against the financial aid formulas, he said.
It is also an indictment of financial aid formulas, which often direct aid to the wrong people.
To bridge the gap, some colleges have begun revising their financial aid formulas, raising concerns about how campus diversity — both economic and racial — might be affected.
The financial aid formulas are complicated enough that it is difficult to predict whether or not the family will qualify for need-based aid.
Why aren't these criteria available to parents? — john peters The financial aid formulas are so complicated that there is no simple way of expressing thresholds on eligibility for need-based aid.
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She is a part-time home health aide, while her husband is on disability, and the federal financial aid formula said that her Philadelphia family could afford to pay nothing at all.
The financial aid formula is complicated enough that subtle changes in a family's circumstances can have a big impact on eligibility for need-based aid.
Tired of losing students to schools like Harvard, Princeton, Stanford, and Yale, this year MIT tweaked its financial aid formula to sweeten the deal for undergraduates from families making $100,000 to $150,000.
Some colleges rely on the federal need analysis formula calculated by the Fafsa while others rely on an institutional financial aid formula, like the one calculated by the CSS/Financial Aid PROFILE form.
By this fall, however, state taxes had been raised for two years in a row, making for what some members of Congress have called a different economic reality than the one on which the federal financial aid formula is based.
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