A final model “financial aid shopping sheet,” the result of a collaborative effort by the CFPB and the Department of Education, has recently been issued by the DOE. The shopping sheet is intended to serve as a uniform financial aid disclosure form.
Following the CFPB’s release of feedback it received on a draft of the shopping sheet, the task of finalizing the shopping sheet fell to the DOE (which under the Higher Education Opportunity Act, was required to submit recommendations for a model financial aid offer form by August 14, 2009—a year after the law was enacted.) … Continue Reading