Standard College Aid Award Letter Designed to Help Consumers
"Colleges are being encouraged to voluntarily use a standard financial aid letter or "shopping sheet" released today by the U.S. Department of Education Department and the Consumer Financial Protection Bureau," Caralee Adams writes for Education Week's College Bound blog. "The National Association of Student Financial Aid Administrators also offered recommendations for clear language in award letters this spring. The final version reflected public feedback including many recommendations submitted by NASFAA. Following the release of the final shopping sheet, in a written statement NASFAA President Justin Draeger urged institutions to carefully review the format before agreeing to adopt it. 'We appreciate that the CFPB and Department of Education incorporated the recommendations of financial aid administrators when revising the financial aid Shopping Sheet,' said Draeger."
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.