"Members of the Finance and Capital Strategies Committee reviewed updates to the final 2023-24 state budget during the UC Regents July 19 meeting. The budget — a total of $310.8 billion — will provide over $215 million to the UC system," Daily Nexus reports.

... "Representatives from the UC Office of the President and the National Association of Student Financial Aid Administrators presented to the Regents’ Academic and Student Affairs Committee on July 19 about the UC’s efforts to improve financial aid offer letters."

"UC Office of the President (UCOP) Provost and Executive Vice President of Academic Affairs Kathryn Newman, alongside UCOP Executive Director of Student Financial Support Shawn Brick, outlined the improvements the UC has already made to financial aid letters."

"These improvements have included updating and standardizing the language used in letters, such as replacing the phrase 'room and board' with 'housing and meals' for clarification."

"'We can have the very best policies in the world and still fail to attract and retain low-income students if we don’t clearly communicate our policies to them,' Newman said.

"Brick emphasized that while UC financial aid offer letters have been significantly streamlined, they do not yet align with national standards set by the National Association of Student Financial Aid Administrators (NASFAA) and other higher education associations."

"NASFAA Vice President of Public Policy and Federal Relations Karen McCarthy spoke to the committee about what those national standards for financial aid letters look like and how the UC should adopt them. McCarthy said that the national standards include providing clear and accurate information, remaining transparent and using standardized language, among other principles."

"'The primary emphasis here is on the understandability, accuracy [and] consumer-friendliness for students and families,' McCarthy said."

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: 7/26/2023