The Common Application has become a fixture of the admissions realm, and many people in the field think that’s a good thing. After all, it’s a tool that simplifies the complexity of the application process for students.
But what would happen if colleges also adopted a common form for their financial-aid offers? It’s an idea that Nina W. Marks endorses in an opinion piece in today’s Washington Post.
Ms. Marks is president of Collegiate Directions Inc., a nonprofit group that works with low-income, first-generation students in Maryland. In her op-ed, “Simplifying the College Aid Maze,” Ms. Marks describes April’s annual fat-envelope fever from the perspective of students who lack both wealth and college savvy. “Aid offers differ markedly in their delivery date, format, language and presentation,” she writes, explaining how those differences tend to complicate the process of reviewing and comparing offers among families who need the most time to make a final college choice.
“In simple language and a user-friendly format, the ‘common offer form’ would highlight the cost of a year’s attendance, including books, travel and living expenses,” she writes. “This would improve on the current practice of highlighting costs per semester and of aligning grants with loans and student/family contributions under ‘awards.’”
Recently, I visited Ms. Marks and her colleagues to learn more about what they do. Next week, I’ll be writing about a collegebound student with whom the organization has worked for the last year.


2 Responses to A Common Financial-Aid Form
11318165 - April 16, 2010 at 4:02 pm
As an Independent College Planning Consultant and Certified Educational Planner, I have advised families for the past fifteen years on college selection and financial aid matters. I wholeheartedly concur with Ms Marks’s idea. It’s massively confusing for families to compare financial aid offers because each letter looks different and often calls similar items by different names. Some of the worst problems in my view: letters that don’t clearly delineate the difference between a merit scholarship and a need-based grant (which have different implications for future aid); colleges that package a parent loan as “financial aid;” not stating anywhere on the letter what the student’s Total Cost of Attendance is so they can easily compute what’s left for them to pay out of pocket after all forms of aid are substracted.Uniformity would be a terrific stress-reliever for students and parents.Lora K. Block, MA, CEPCollege Advisory ServicesBennington, Vermont
mkant69 - April 16, 2010 at 5:43 pm
The Higher Education Opportunity Act of 2008 requires the US Department of Education to develop a model financial aid award letter with the goal of eventually adopting a standardized form, sort of like the Schumer box for credit card offers, but for college costs and financial aid. See http://www.finaid.org/fafsa/awardletters.phtml for a discussion of financial aid award letters and out-of-pocket cost. The work Kim Clark of US News & World Report did on financialaidletter.com illustrates many of the problems with financial aid award letters. Mark KantrowitzPublisher of FinAid.org and FastWeb.com