Home > Uncategorized > Government Gives Colleges a Model for Telling Students What It Would Cost to Attend

Government Gives Colleges a Model for Telling Students What It Would Cost to Attend

By Timothy Sandoval

The Obama administration is releasing today the final version of a model financial-aid award letter that colleges can use to provide potential students with standardized information on their true costs of attendance, as well as any available grants, loans, and other financing options, such as Work-Study or military benefits.

Use of the model letter, also known as the “Financial Aid Shopping Sheet,” is voluntary, but the U.S. Secretary of Education, Arne Duncan, is calling on all institutions to adopt the template. It provides space for colleges to include each student’s total net cost, along with data about median federal borrowing among all students at the institution, average monthly payments for that debt level, and the institution’s loan-default and graduation rates.

Visit: http://chronicle.com/article/Government-Gives-Colleges-a/133117/

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