ok-5290: State Regents for Higher Education — Student Financial Aid and Scholarships
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Summary
The proposed rule change updates the reference to the Expected Family Contribution (EFC) to the Student Aid Index (SAI), reflecting the current federal methodology used to assess financial need for student aid eligibility. EFC is no longer the federal methodology used to determine financial aid eligibility through the FAFSA. Under the federal FAFSA Simplification Act, the Student Aid Index (SAI) replaced the Expected Family Contribution (EFC) as the primary measure of financial need. Accordingly, the rule should be updated to reflect the current federal terminology and methodology. This revision will help ensure that OSRHE’s award process remains consistent with federal financial aid practices, eliminates reliance on an outdated standard, and provides private and independent institutions with clear guidance regarding the information required when available grant funds are insufficient and awards must be prioritized based on demonstrated financial need.
The agency’s own summary, as published.
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