There has been a lot of chatter on several HEUG forums about the Department of Education's new "Shopping Sheet," which was finalized and released last week. There has also been discussion about how to most efficiently implement this. While it is optional for colleges to provide this for most of their students, there is significant interest at the presidential level on many campuses.
According to the July 26 edition of Time magazinge:
"The guide, called a “Shopping Sheet,” is a one-page form created by the Department of Education and the new Consumer Financial Protection Bureau that will detail the estimated price of attending a university (tuition, housing, books, etc.), the grants and scholarships that reduce the expenditure, and the resulting net cost, or what students will actually be responsible for. The guide will show students some options for how they might be able to pay for college, including work study, loans and expected family contribution. The form also, and perhaps most importantly, features a section on the school’s graduation rate, loan default rate and the median amount students typically borrow in federal loans at the school in question, as well as the standard monthly federal loan payment for students who borrow that amount and repay it over a 10-year period.
HEUG's Financial Aid PAG is in consultation with Oracle about this. They will keep members informed on this issue through their Financial Aid Forum. If you want to join the conversation, or just listen in, be sure to subscribe to the Financial Aid Forum by signing in to HEUG.org. In the upper right hand corner, choose My Options>My Subscriptions. If you are not already subscribed to that Forum, add Campus Solutions: Financial Aid.