College Cost Confusion: Report Finds 91% of Colleges Don't Report True Cost

"As the Supreme Court is expected to soon weigh in on the fate of President Joe Biden’s COVID-era college loan forgiveness program, millions of prospective college students are preparing to take on tens of thousands of dollars in bills and debt of their own," NBC Washington reports

... "Justin Draeger, the president of the National Association of Student Financial Aid Administrators, told the I-Team that while 'we can't make any excuses for schools that are purposefully trying to hide or disguise their costs,' the majority are doing the best they can."

"Draeger said, in most cases, confusion on these offers isn’t intentional. 'Paying for college is a really complicated issue in this country …  There are just so many entities involved in helping students and families pay for college,' he said, explaining financial aid officers are trying to organize information from government entities, scholarship providers and families."

"'The financial aid office is trying to put together a single package with all of these funding … and it's really complicated. And I sympathize with students and families who are trying to figure all of this out,' he said."

"Draeger welcomed some congressional action on the issue, noting lawmakers could mandate minimal standards on financial offers to make the bottom line easier to understand."

"'But I also don't think that's going to be a panacea,' he said. 'This is going to take all stakeholders coming together and trying to figure this out because the complexities aren't going to end today or tomorrow.'"

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Publication Date: 6/19/2023

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