More Than 300 Colleges Adopt Financial Aid Shopping Sheet

By Catherine Groux
Posted September 28, 2012 10:00 AM

More than 300 schools have adopted the Financial Aid Shopping Sheet.
More than 300 schools have adopted the Financial Aid Shopping Sheet.
In July, the Obama Administration created the final version of its Financial Aid Shopping Sheet, according to a White House press release. This letter, which would be mailed to students from colleges that chose to adopt it, would clearly explain how much degree seekers would pay to attend the institution, taking financial aid packages into account. Additionally, the Shopping Sheet clearly outlines what students' options are for scholarships, loans and work study programs.

As higher education has never been so costly, the sheet was designed to clarify the financial aid process and help students make smarter decisions when it comes to paying for college. In an open letter, U.S. Secretary of Education Arne Duncan asked colleges across the country to adopt the Shopping Sheet to do their part in giving all Americans access to higher education.

Today, 316 postsecondary institutions have voluntarily adopted the Shopping Sheet for the 2013-2014 academic year, a U.S. Department of Education press release states. This means that next year, more than 1.9 million students, or 10% of all undergraduates, will receive the form.

"Our goal is to help students arrive at school each fall less worried about how they will pay for college, and more focused on how they will complete college," Duncan said in a statement. "Institutions share that goal, and many have shown their support by joining their colleagues across the country that have already agreed to adopt the Shopping Sheet. The Shopping Sheet will make it dramatically easier for students to both understand and compare costs at different institutions - and ultimately enroll in the college that is the best fit for them."

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