<p>Does anyone have a copy of the actual financial aid calculation methodology that is used by the colleges in the 568 President's Group?</p>
<p>I am also looking for the actual calculation methodology used for the Institutional Methodology (IM), which is based on the CSS Profile submission that a family sends to the College Board.</p>
<p>The FAFSA methodology is easily available on the FSA/FAFSA website, but the CSS Profile website only has an estimation "calculator" for the Institutional method (and also for the FAFSA method). However, I am looking for the actual methodologies used by the 568 Group and for the Institutional method.</p>
<p>I doubt you will find the actual calculation methodology posted anywhere...most schools keep the precise specifics to themselves, otherwise, individuals can find ways to lower their IM EFC's by hiding information.</p>
<p>I agree. I can tell you that our EFC had to have been different at each Profile school that accepted my daughter ... not that they told us the actual EFC, but we could infer it because these schools met 100% of need.</p>
<p>Thanks for the reply. The calculations for the Federal Method (FAFSA) are public and all over the web. The calculations for the Institutional Method (CSS Profile) are also public, e.g. on FinAid.com. I am still hoping to find the calculations for the 568 Group Method.</p>
<p>Many books have been published and many lists assembled (even on this website) suggesting legal, ethical methods to minimize a family's EFC. I believe that hiding info or submitting false info is a federal crime, regardless of which method the student's college uses.</p>
<p>If you have any other suggestions for obtaining a copy of the calculations for the 568 Group Method, I would greatly appreciate them!</p>
<p>Go to the Amherst College website and run their finaid calculator. We didn't get aid at my childs 568 school but am told it works well. Every 568 school has leeway over things like how to value home equity.</p>
<p>Thanks for the reply. Colleges are usually quite happy to tell you the EFC they used.</p>
<p>However, you can easily calculate the EFC they used by taking the college's stated costs (tuition, room, board, fees, books, personal, and travel home if allowed), and subtracting from it the value of the award it provided. If the college is meeting 100% of need, the difference should be the EFC it used.</p>
<p>The award amounts can easily be different (with the same EFC) because the colleges' costs are different. You can also go to FinAid.com and calculate what your EFC should be (if the college uses either the Federal or Institutional Method).</p>
<p>If you calculate an EFC at FinAid.com different that what the college appears to have used, you have a reasonable basis to ask it to explain the award.</p>
<p>Given all that, the hassle is when a college uses the 568 Group method, and that is why I am looking for a copy of its method of calculations. If you have any other suggestions, I'd greatly appreciate them. Many thanks.</p>
<p>Actually, each Profile school is free to use the information collected any way they like...and each school collects different data through Profile. Also, according to the 568 Group website, each school is allowed leeway when they calculate EFC using their method...so there really isn't any set way to determine it. Only the federal EFC is easily computatable in advance.</p>
<p>Also, I wasn't meaning to imply that you were looking for ways to hide financial information. I was merely stating that this is why many schools do not publish the precise methodology used.</p>
<p>Frustration, I understand your frustration. But the IM that you see published is a starting point for Profile schools. They do not have to stick to the IM as written, and obviously many do not. Schools collect additional data on the Profile itself or on their own forms. They can adjust data elements however they see fit. It is an INSTITUTIONAL method, and the institutions do with it as they wish. Only the federal methodology will for-sure yield the expected EFC. Some schools, like Princeton, will allow you to determine your EFC "their way" on your own; most choose not to do that. You can ask a particular school to share its method, although I have no idea how many will cooperate.</p>