C4 - Decoding the Cost of College: The Case for Transparent Financial Aid Award Letters (a Current Trends/Future Issues session)
Session Description
Students and families confront a lack of information/transparency when making one of the biggest financial decisions of their lives. Financial aid award letters often use confusing jargon, lack consistency, omit the total cost of attendance and include Parent PLUS Loans as "awards". Join us to learn about the report titled, "Decoding the Cost of College: The Case for Transparent Financial Aid Award Letters" that the educational non-profits, New America and uAspire, co-authored where they analyzed 515 award letters and uncovered findings such as 136 unique terms for an unsubsidized student loan, 70% of financial aid award letters provided no explanation of work-study and only about half provided information about how to accept or decline awards. Bring your ideas and best practices for helping students decode the cost of college.
Note: The US Department of Education issued guidelines last week about what all college financial aid notifications should include. Attend this session to hear more, from the experts, about this important issue.
https://www.insidehighered.com/admissions/article/2019/04/22/education-department-urges-colleges-be-clear-about-financial-aid
Target audience
ALL
Submitter
Ann Marie Strauss, Garrison Forest School
Presenters
Laura Keane, uAspire
Brief biographical sketch, to include educational background
Laura leads the creation of a new Policy Department at uAspire to drive policy and systems change at the institutional, local and national levels. Laura designs the overall strategy and manages uAspire's translation of front-line experience into proof points on how to improve and increase affordable college pathways for Americans. She develops strategic partnerships with the broader higher education practice, research and policy communities to drive systemic change that will result in more degrees and less debt for low-income and first-generation young adults. B.A. English & History, University of Notre Dame; Ed.M Harvard Graduate School of Education
Ann Marie Strauss, Garrison Forest School
Brief biographical sketch, to include educational background
I will likely moderate the panel. I will look for another panelist--either a college finaid officer or a public school counselor/CBO counselor to talk about how they help students decode the cost of college.
Megan McLean Coval, M.Ed, National Association of Student Financial Aid Administrators
Brief biographical sketch, to include educational background
B.A. Allegheny College
M.Ed. Penn State University
Worked in Admission at PSU, was the Director of Government Relations for the Advisory Committee on Student Financial Assistance at the US Department of Education. From there, Megan moved to NASFAA where she's been for nine years.
Rachel Fishman, New America
Brief biographical sketch, to include educational background
Rachel Fishman is the Deputy Director for Research with the Education Policy program at New America. She is a member of the higher education initiative, where she provides research and analysis on policies related to college finance, consumer protection and transparency, and access and success of post-traditional students. In addition, Fishman leads the initiative’s public opinion work including Varying Degrees, its signature annual survey. Fishman and her work have been cited in such media outlets as The New York Times, The Washington Post, and NPR. Her blogging on financial aid won a national award from the Education Writers Association in 2013.
Fishman previously worked as an education advisor for The College Planning Center in Boston where she provided guidance to students and families how to plan and pay for college. She holds a master’s degree in higher education from the Harvard Graduate School of Education and a bachelor’s degree from the University of Wisconsin-Madison.