More Student Loan Forgiveness Is on the Horizon, as U.S. Colleges Commit to Cost Transparency

"The new year brings some major moves in the student loan industry. From a new round of forgiveness to more transparency around financial aid, students are getting help from universities and the government alike," Fox Business reports. 

..."In an effort to address the high cost of student loans and make borrowing an easier journey, over 360 higher education institutions are committing to a set of standards that promotes transparency around student financial aid offers, according to a release by the National Association of Student Financial Aid Administrators (NASFAA).

'Students and families need transparency, consistency, and clarity when colleges and universities communicate their student financial aid offers so that they are able to make informed decisions about enrolling in and affording higher education,' Cardona said. 'Unfortunately, financial aid offers are often confusing and, in some cases, misleading.'

The standards set out by the College Cost Transparency Initiative include making the language in financial aid offers more approachable for students and their families. It also requires colleges to give a clear look at the total cost of attendance.

Some of the well-known universities that have committed to providing more transparency include Duke, California State University, Michigan State University and Purdue, among many others."

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: 2/15/2024

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