As College Decision Day Approaches, NASFAA Resource Can Help Students Decipher Financial Aid Awards

A Glossary of Terms Helps Break Down Award Letter Details Before Decision Day

In less than one week, incoming college students across the country will have to make a decision about which college they will attend next year. But before students make their College Decision Day choice on May 1, they’ll need to consider and compare financial aid offers from different schools.

In the final days leading up to this decision, National Association of Student Financial Aid Administrators (NASFAA) urges students and families to carefully weigh their options and decide which school best fits their needs, but also determine what makes the most sense financially. Comparing and deciphering these award letters can be tricky, but NASFAA’s Glossary of Terms for Award Notifications can help. From “cost of attendance” and “enrollment status,” to “gift aid” and “net cost,” the glossary lays out exactly what students and parents need to know about their award letters.

“Choosing which college to attend is not a decision students and families should take lightly,” said Justin Draeger, president and CEO of NASFAA. “Although the process can be stressful at times, choosing a school that will fit a student both personally and financially will be a benefit in the long-run. Financial aid administrators across the country, are ready and able to help students and families make sense of the technical terms in their award letters and make a plan to pay for college.”

As decision day approaches, NASFAA encourages students and parents to reach out to financial aid offices at their prospective schools with any lingering questions. To request an interview with a NASFAA spokesperson about what students and parents should take into consideration when making their college-going decisions, please email timmonse@nasfaa.org or call (202) 785-6959.

About NASFAA

The National Association of Student Financial Aid Administrators (NASFAA) is a nonprofit membership organization that represents more than 20,000 financial aid professionals at nearly 3,000 colleges, universities, and career schools across the country. NASFAA member institutions serve nine out of every ten undergraduates in the United States. Based in Washington, D.C., NASFAA is the only national association with a primary focus on student aid legislation, regulatory analysis, and training for financial aid administrators. For more information, visit www.nasfaa.org.

Publication Date: 4/25/2017

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