Treating Farm Families Unfairly?

Higher education administrators say a change in the federal student aid formula could mean lower levels of financial aid for children whose parents run family farms or small businesses, and they want Congress to take action. Currently, a family with an adjusted gross income of $60,000 and a farm worth $1 million would be expected to contribute $7,626 annually for college. But under the new federal financial aid formula that will launch later this year, that same family would be expected to contribute $41,056, the Iowa Student Aid Commission found in a recent report.