"Most colleges are not following the Education Department’s best practices for providing clear information in their financial aid offers. Nearly two-thirds of colleges follow half or fewer of the 10 best practices and no college followed all 10. GAO said many colleges do not estimate the net price for students, which “may leave students guessing how much they will need to pay,'" POLITICO reports.

..."— Federal law does not require colleges to include clear or standard information in the financial aid offers, but the Education Department has encouraged colleges to follow best practices. The GAO recommended legislation to require colleges to provide students financial aid offers that follow the best practices.

— 'Students and families need clear and understandable financial aid information in order to make wise college-going decisions,' NASFAA President Justin Draeger said in a statement. 'The GAO report released today — in which NASFAA participated — highlights the ways schools are falling short in communicating college costs to students.'"

NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Articles included under the notable headlines section are not written by NASFAA, but rather by external sources. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented. 

Publication Date: 12/6/2022