"Colleges and universities have been criticized for years for sending out financial aid offers to students that are confusing, opaque and sometimes misleading," The New York Times reports.

..."Justin Draeger, president and chief executive of the National Association of Student Financial Aid Administrators, which is managing the new initiative, said standardizing college aid letters would be challenging because paying for college involves multiple sources: students and their families, federal and state governments, colleges themselves, and independent scholarship groups.

'The way we fund financial aid in this country is complex,' he said.

Colleges need some flexibility, he said, because while many serve traditional students enrolling soon after high school, others focus on adults who may have different financial priorities.

Student aid offers — sometimes called financial aid award letters — are supposed to detail the cost of attending a college and the net cost a student can expect to pay after financial aid."

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: 10/6/2023