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Net Price Calculators_ Award Letters and Shopping Sheets - Hesc

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					Net Price Calculators,
   Award Letters and
     Shopping Sheets
    Informing Choices for Student Success
                            Diane Corbett
                  Director of Financial Aid
                      University at Albany
 Compare net prices at different colleges
 Colleges required to have calculators
  posted on web sites
 Net price vs. sticker price
 Early information tool
 Recent studies indicate not widely used



Net Price Calculators
 Student financial aid offer forms
 Communication of costs and resources
 Variations in format-paper and/or
  electronic
 Designed to meet needs of unique student
  populations
 Should provide clear and accurate
  information
 Cost of Attendance vs. Direct Costs


Award Letters
 To make financial aid award letters easy
  to understand while at the same time
  providing accurate and comprehensive
  information
 Simplification, clarity and full disclosure
 Net cost vs. net price
 Comparing schools-apples to apples?
 Improve consumer information and
  reduce confusion


The Challenges
 ED and CFPB effort to make financial aid
  awards and college cost information more
  transparent and easier to compare
 Clear distinction between loan and grants
 May be used as a supplement or as a
  financial aid award letter
 Participation encouraged for 2013-2014
 Principles of Excellence-Executive Order with
  disclosure requirements for institutions
  serving veteran and military populations
  including commitment to use Shopping Sheet




The Shopping Sheet
Shopping Sheet
Online




The Shopping Sheet
 Model format for financial aid award letters

 Standardization of common terminology

 Metrics and outcomes

 Cost of Attendance

 Estimated costs after “gift aid”

 Work and loan options



The Shopping Sheet
 We look forward to partnering with you as
  you assist students in using the tools
  available to become better informed.
 Thank you for all you do!




Questions?

				
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posted:1/22/2014
language:English
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