Word: boarded
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Dates: during 1990-1999
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This time, the instrument of change is the College Board, the organization that runs the SAT program, and which also plays a large role in the world of financial...
Experts at the College Board maintain a formula officially known as the Institutional Methodology, but commonly referred to as the IM, which is the basis for figuring out how much money a family can afford to put towards a college education...
...looks like a change is in order. Created in the 1950s, the IM has been modified very little since its conception and the College Board now seeks to update...
...College Board hopes to unveil a new version of the IM by this July. It will then be up to the individual schools to start using the new formula to determine financial need...
Concerns about the current aid formula resulted in a proposal by the College Board to change the IM, a proposal which is now being reviewed by financial aid offices across the country...