CCT Initiative Grows as Hundreds of Colleges and Universities Continue to Pledge Transparency in Financial Aid
Dear NASFAA Community:
As another hectic fall semester begins, our landmark College Cost Transparency Initiative is reaching its first anniversary. We’re delighted to update you on our significant progress to date — and to thank you for making it possible.
More than 615 institutions across the U.S. have now joined the CCT, committing to the initiative’s voluntary transparency standards and principles that help students and families compare financial aid packages and their options. These partner institutions span all 50 states, Puerto Rico, and Guam, and together serve more than 6 million students.
We know it’s no easy feat for schools to step back and consider how to improve financial aid communications, especially amid the endless pressures you face on campus — particularly the ongoing FAFSA delays and errors and new reporting requirements for gainful employment regulations. We deeply appreciate financial aid offices for stepping up to the challenge. Their embrace of the CCT speaks to the critical importance and impact of cost transparency.
If your institution hasn’t become a CCT partner, we hope you’ll consider its benefits to your students and community. Families require clarity regarding their financial aid options, particularly as the federal government’s rollout of the “Better FAFSA” has created confusion and turmoil for students and institutions of higher education. As lawmakers continue exploring legislation to standardize aid offers, CCT partner institutions are ahead of the curve in taking actionable steps to improve clarity and transparency in their financial aid communications.
For more information on the CCT initiative, you can review Frequently Asked Questions on the CCT website, or submit your commitment to become a partner.
Thanks again for your engagement, and best wishes for the new academic year.
Best Regards,
Beth Maglione | NASFAA Interim President & CEO
Ted Mitchell | ACE President, CCT Task Force Chair
Publication Date: 9/26/2024
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