Improving Award Letters and Consumer Information

Congress and the Obama administration have launched an initiative to improve student aid award letters in response to concerns that these letters are confusing and difficult for students to compare. To ensure this effort is informed by financial aid professionals, our Board of Directors has commissioned a task force to discuss award letter best practices, develop recommendations, and investigate creating a glossary of standardized award letter terms.

Send Us Examples

Please share a sample of your award letter template with the Task Force. Send your documents to policy@nasfaa.org. 

Take Our Survey

The NASFAA Task Force on Award Letter & Consumer Notification is seeking input from NASFAA members. Please take our 15-minute survey about the elements, format, and organization of your award letter.  Aggregated, anonymous responses will be used internally to guide task force discussions and final recommendations.

Take the 15-minute survey >> 
 

Resources

 

Creating an Effective Award Letter 

Complying with Consumer Info Requirements 

Award Letter Tool for Students 

Award Letter Recommendations Submitted to ED 

Task Force Charter & Members 
NASFAA Response to CFPB 'Shopping Sheet'
While NASFAA believes that improvements to award notifications are necessary and desirable, regulation of award letters could interfere with an institution’s ability to meet the specific needs of its unique student body, and could restrict innovation. However, a model for financial aid award notifications can be both i...
Debating Award Letters at the 2011 FSA Conference
Award letters have been a source of debate for over 20 years and this was the case at the 2011 Federal Student Aid (FSA) conference in December.  U.S. Department of Education officials held an award letter session to solicit feedback from the financial aid community as part of their effort to develop a model award lett...
Charter: Task Force on Award Notification & Consumer Information
The Task Force on Award Notification Consumer Information is charged with examining best practices in award notification and consumer information and reporting back to the NASFAA Board of Directors with recommendations on how to improve or standardize elements of an award notification.
Consumer Financial Protection Bureau and ED to Develop Model Financial Aid Disclosure Form
The Consumer Financial Protection Bureau (CFPB) announced on Oct. 26 that it is partnering with the U.S. Department of Education to launch a “Know Before You Owe” project to create a model financial aid disclosure form for students and parents.
NASFAA President Makes Recommendations to ED on Award Letters
NASFAA President Justin Draeger recommended to the Department of Education (ED) key elements and model formats to improve award letters for students and their families.
Award Letter Comparison Tool for Students and Parents
This tool helps students and parents compare financial aid award letters from different schools
Creating an Effective Financial Aid Award Letter
Use this tool to evaluate your institution's financial aid award letter to create clear, concise, and complete award letters that adhere to best practices.