A new report found that at best, offer letters from colleges to prospective students can be confusing. At worst, they're misleading. And the problem has plagued students for years.
As a perspective college student, McKenna Hensley had to wade through confusing and hard-to-compare financial aid letters, trying to understand which college she could afford. colleges are failing to give accepted students clear and standard information about financial aid packages. The consequences can be extremely disruptive, including, for some students, dropping out of school.
The GAO report found that at best, offer letters can be confusing, and at worst, they are misleading. “This is egregious and unacceptable,” said Rep. Virginia Foxx in a joint statement with Rep. Lisa McClain , who have introduced new legislation to make financial aid offers transparent and easy to compare. “Colleges and universities must do better.” Foxx is the top Republican on the House Education Committee and requested the GAO report.
Many failed to clearly label what aid money was free – like grants – and what students would have to pay back.
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