1-Page Letter on Student Financial Aid
"Three years behind schedule, the U.S. Department of Education this week unveiled a standardized one-page financial aid award letter it is urging colleges to adopt so students can easily compare the out-of-pocket cost of one school versus another," the San Francisco Chronicle reports. "The big problem: Schools are not required to use it. Unless they comply voluntarily, its use as a comparison tool will be limited. A bill in Congress would require schools to adopt a standard award letter similar to the shopping sheet. There is no reason for lawmakers not to approve it, and soon. Consumers have been waiting too long for this information. Considering that much of the financial aid schools offer - and that comes back to them in tuition - is federal grants and loans, Congress has every right to demand this."
NASFAA's "Financial Aid in the News" section highlights media coverage of financial aid to help members stay up to date with the latest news. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.