February 11, 2005
Report Criticizes Education Dept.
The U.S. Education Department should make more of an effort to update annually the tax tables it uses to calculate students' eligibility for federal financial aid, the Government Accountability Office has recommended.
The tax tables, which are based on information compiled by the Internal Revenue Service, dictate how much families may deduct for state and local tax payments when applying for federal student aid. The department has been required to do the updating annually since 1993,
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