Consistent and Clear Financial-Aid Award Letters Urged
"In the spring, many families eagerly await news of how much money will be provided in financial aid to cover college expenses. Help can come in the form of scholarships, grant, loans—and often a combination of the three," Caralee Adams writes for Education Week's College Bound blog. "Word usually comes to students in the form of an award letter. Because some of this aid is a gift and some needs to be repaid, the bottom line costs to families can be confusing. Today, the National Association of Student Financial Aid Administrators released recommendations to improve the situation and clarify communication. NASFAA's Award Notification and Consumer Information Task Force published a report to provide award-letter best practices along with a glossary of standardized award-letter terms. While NASFAA recommends standardization of certain award-letter terminology and elements, it acknowledges that there needs to be some flexibility for institutions to customize communication for their own student populations."
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.