Dear Student,
This is a screen shot of the first web page that gives newly admitted UC Davis students information about their financial aid awards. As you can see, there are many links the student can explore to learn more about the details of their award. But many educational and consumer experts think students should not have to wade through lots of webpges to get the information they need to make wise decisions. They say colleges can and should provide one complete, jargon-free and easy-to-compare page. To read about why you deserve better, how we evaluated these letters, and how you can evaluate your own letters, click here. Of course, we hope anyone making important life decisions will check with their own trusted financial and personal advisors, not just websites - not even this one!
From the director of UC Davis' Financial Aid Office, Lora Jo Bossio:
Jargon: Bossio says Davis is saddled with an ancient computer system, which, unfortunately, can't be easily cured of quirks like printing useless characters next to some of the aid information. NH, for example, stands for nothing more than North Hall, which is where the financial aid office used to be located. Bossio acknowledges that the financial aid process is overly complicated and needs to be simplified. "Does it have to be that complicated? It's nuts!" she says.
Student Self Help Expectations and Contributions: Davis gives these terms to its assumption that students will contribute $4,000 in earnings each year to their college expenses. Davis also expects each student to borrow another $4,500 each year, which means each student has to come up with $8,500 a year somehow. That's a bit of a challenge for freshmen, who can't borrow more than $3,500 from the Stafford loan program. Bossio says her office can help arrange alternative financing, through Perkins or private loans. But her office also suggests students achieve their contributions by reducing their expenses.
Including a PLUS loan as part of the aid package total: Bossio says Davis started including federal parent loans in its awards because "We had a lot of families ask 'What are our options?' We don't want to encourage or push loans," she says.
Electronic award letters: Although some schools insist on sending out paper financial aid letters because many low income students and parents might not have access to the internet, Bossio says Davis' system of sending out postcards directing students to the website (of which this is a screen shot) "is great." She says less than 100 students request paper letters each year.
From Financialaidletter.com:
Clarity:
- "They provide good information about all costs," notes Donald Hossler, former Vice Chancellor for Enrollment Services at Indiana University.
- 'No clue on what to do next" says Tom Gallagher, a counselor for Directions for Youth & Families in Columbus, OH.
Cost:
- When estimating how much it will cost to get a degree from this school, consider that just 42 percent of Davis students graduate in 4 years.
