FOR IMMEDIATE RELEASE
Contact: Allie Arcese
Director of Communications
WASHINGTON, D.C., DECEMBER 5, 2022 — On Monday, the Government Accountability Office (GAO) released a report examining the way colleges and universities communicate financial aid offers with students and parents.
“Students and families need clear and understandable financial aid information in order to make wise college-going decisions. The GAO report released today — in which NASFAA participated — highlights the ways schools are falling short in communicating college costs to students.
NASFAA supports transparent and clear financial aid offers. From creating our own task force in 2012 to examine the clarity and quality of financial aid offers, to commissioning independent research to consumer test various aid offers, to adding aid offer minimum requirements to our Code of Conduct in 2014, and recently, joining the leaders of nine other higher education associations to produce a set of guiding principles and minimal standards when colleges develop financial aid offers, NASFAA has worked to make a confusing process easier for students and families.
There have also been efforts at the federal level to address this issue through legislation, including legislation that NASFAA has supported. But the higher education community has the capability to make change now. We look forward to working with schools, stakeholders, and our federal partners to help students and families better understand the cost of college today.”
The National Association of Student Financial Aid Administrators (NASFAA) is a nonprofit membership organization that represents more than 32,000 financial aid professionals at approximately 3,000 colleges, universities, and career schools across the country. NASFAA member institutions serve nine out of every 10 undergraduates in the U.S. Based in Washington, DC, NASFAA is the only national association with a primary focus on student aid legislation, regulatory analysis, and training for financial aid administrators.
Publication Date: 12/5/2022