We the People ask the President to make the promise of education for all Americans more realistic, by taking the necessary steps to revise the formula for calculating the Expected Family Contribution (EFC) for Federal Student Aid. The formula should change to bring the EFC in line with today's economic realities, while also taking into consideration other factors such as geographic differences in cost-of-living and the lack of liquidity in one’s home. The net result should be a dramatic reduction in the EFC, which will force academic institutions to construct more realistic and equitable financial aid packages for all Americans who wish to pursue a 21st century education.
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