2016-2017 College Financial Aid Formula Penalizes Middle Class $8,000

The 2016-2017 update to the federal college aid formula (Federal Need Analysis Methodology) has been announced, and like recent years it penalizes middle class families even more. For families that save at all, the change in the formula has penalized them by almost $8,000 over four years of college, raising their out-of-pocket cost of college.