Monday, October 29, 2012

FA Shopping Sheet

If you've been following any Financial Aid information that involves the VA, then you're probably aware of the Financial Aid Shopping Sheet. But if you're not aware of it or aren't sure about it, the first thing you're probably wondering is what is it and where did it come from.

The FA Shopping Sheet can trace itself to Executive Order 13607. This Presidential Order urged schools that receive federal funds for veterans and military personnel to comply with a "principles of excellence". If you signed these principles, then for veterans and military personnel, you have to use a stadardized form "to help those prospective students understand the total cost of the educational program, including tuition and fees; the amount of that cost that will be covered by Federal educational benefits; the type and amount of financial aid they may qualify for; their estimated student loan debt upon graduation; information about student outcomes; and other information to facilitate comparison of aid packages offered by different educational institutions."

The one plus to this form is that you can use it for everyone and not only the military/veteran students. You can use it as an award letter for any student. Here is a link to the annotated Financial Aid Shopping Sheet as of August 30. This may change before it is implemented July 1, 2013.

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