• Federal Agencies Unveil Financial Aid Disclosure Form for Colleges and Universities
  • November 16, 2011 | Authors: B. Knox Dobbins; Allegra J. Lawrence-Hardy; Jason D. Stone
  • Law Firm: Sutherland Asbill & Brennan LLP - Atlanta Office
  • On October 25, 2011, the Department of Education and the Consumer Financial Protection Bureau released the attached “Financial Aid Shopping Sheet,” a model financial aid award letter that a college or university could send to prospective students who have been awarded financial aid. Use of the one-page form would be voluntary. The model form is part of the Department’s financial aid disclosure reforms, as mandated by the Higher Education Opportunity Act (HEOA), as well as the Bureau’s “Know Before You Owe” consumer financial education initiative.