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New College Financing Plan template available
October 20, 2022
Although this academic year has just gotten underway, financial aid professionals are well into their preparation for next year.
To help with the preparation, the Department of Education has released the new 2023-24 College Financial Plan template for institutions to use in preparing financial aid packages.
In an October 6 Electronic Announcement, the Department said the College Financing Plan is a standardized form that is designed to simplify the information that prospective students receive about costs and financial aid so that they can easily compare institutions and make informed decisions about where to attend school.
The College Financing Plan (formerly known as the Financial Aid Shopping Sheet) has been used by some institutions since 2012 beginning with the 2013-2014 award year. The Department asked institutions to voluntarily commit to using it to supply financial aid information to students in a way that could be understood and compared easily.
More information and other resources, including the HTML specifications file, technical guide, and a set of Frequently Asked Questions (FAQ), can be found on the following website: www2.ed.gov/policy/highered/guid/aid-offer/index.html.