The federal government is tweaking the formula used to calculate federal financial aid for higher education, which will result it saving the government billions by requiring families to pay more for education. The changes reduce all types of federal aid – including Pell Grants. “In other states like Michigan, Delaware, South Carolina or Wisconsin, the burden will likely be greater. Families earning around $25,000 may be expected to contribute an extra $220 or less, those earning $50,000 may owe $940 more, while their counterparts with $80,000 incomes may be obliged to part with an additional $1,500.”
> NYTimes: “Change in Aid Formula Shifts more costs to students”