"Every year, incoming and current college students have to file a FAFSA in order to determine their potential and continued eligibility for federal financial aid. Students may also have to file institution-based financial aid applications every year, along with institution-based or outside scholarships. Offer letters are key tools used by colleges and universities to notify students of their eligibility for federal, state, and institutional financial aid. Students and families use these letters to determine what the cost of attending that particular institution will be," according to the Department of Education's Home Room blog.

"Recent research such as the 'Decoding the Cost of College' joint research report by New America and uAspire, and the National Association of Student Financial Aid Administrators Issue Brief on Financial Aid Award Notifications have determined that offer letters are often hard to understand, and can lead students and families to misinterpret financial aid packages. Consequently, students and families end up borrowing more loans than they should, the students decide not to attend a particular institution, or the greatest consequence is that many students do not realize the true cost of attendance, which can lead to negative outcomes like not being able to afford to finish.

... This past month, I had the opportunity to chat with Matt Sessa, Executive Director of Student Registration and Financial Services, and Paul Richards, Director of Communications at the Division of Finance, at the University of Pennsylvania about their efforts to improve UPenn’s financial aid communication.

Q: Could you tell me more about Penn’s recent offer letter redesign?

A: Matt and Paul worked with administrators across campus that were not even involved in Penn financial aid, particularly departments that worked directly with students such as the Vice Provost for University Life and the Admissions Office. They also created a working group dedicated to revising the offer letter. By working with several departments that were not part of the financial aid sector, Matt and Paul were able to tackle the offer letter rewrite from different angles and utilize other departments to check for understanding and readability. The redesigned offer letter rolled out for Penn Early Decision Students of the Class of 2023."

NASFAA's "Notable Headlines" 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.

Publication Date: 4/25/2019