Word: ims
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Dates: during 1990-1999
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...IM is used at nearly 400 colleges and universities, including Harvard. Director of Financial Aid James S. Miller calls the IM the "backbone" of need calculation at Harvard...
...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...
...IM worked well for very low income families, but middle income and upper middle income were "really getting whacked pretty hard," said Stanley G. Hudson, an MIT dean and financial aid officer, who is on the advisory committee looking into the IM...
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...