Student-Aid Group Releases Recommendations for Improving Award Letters
"Choosing a college is a big financial decision," Beckie Supiano writes for the Chronicle of Higher Education's Head Count blog. "And in recent months the Consumer Financial Protection Bureau and even President Obama have sought to ensure that students and their families make that choice as well-informed consumers. The National Association of Student Financial Aid Administrators, known as Nasfaa, has now released a new set of suggestions for improving financial-aid award letters, which colleges send to admitted and returning students to inform them of the grants, scholarships, and loans they are eligible for. Consumer advocates have long complained that the award letters are confusing and difficult to compare across institutions. Mr. Obama’s college-affordability proposals, released in January, include requiring colleges to use a 'financial-aid shopping sheet.' While Nasfaa agrees that the letters should be improved, the group has opposed standardization, saying that colleges should be free to decide how best to present information to their own students."
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