CFPB Hears From Students About New Financial Aid Disclosure
January 30, 2012
to the Consumer Financial Protection Bureau, students would find it useful to
know exactly how much debt they will have when they graduate from college and
how much they will owe in monthly loan payments. The agency asked students,
parents, and educators to comment on its proposal for a new, streamlined
financial aid disclosure. The CFPB released a prototype in October for the
financial aid shopping sheet that colleges would provide to prospective
students. Besides post-graduation payment expectations, the document would
explain loan payments, identify other financial aid sources, and compare costs
between private and public colleges. More than 22,000 individuals weighed in on
the matter, with the majority saying the sheet would be helpful. Additionally,
students said it would helpful to know a school's performance in terms of
financial aid recipients being able to repay the debt.
Web Link - May Require Paid Subscription
External web links may expire.
Return to Headlines
Abstract News © Copyright 2008-2013 INFORMATION, INC.