The Obama administration on Friday announced that it had convinced nearly 1,956 colleges and universities to adopt its financial aid “shopping sheet” -- a standardized template aimed at allowing students to easily compare the aid packages they are offered from different institutions. The administration has more than doubled since this summer the number of colleges committed to using the voluntary templates. In July, officials said that about 700 colleges had opted to use the shopping sheet in its first year.
The institutions that will now be using the forms enroll more than 43 percent of undergraduate students in the United States, an Education Department official said in a blog post. The department also announced Friday that it was making minor changes to the shopping sheet. The new version, will clarify that a university’s median borrowing statistic listed on the form only captures students who borrow at the institution. The revised shopping sheet will also feature a glossary of financial aid terms and an expanded customizable box where institutions can provide more individualized information about a student.
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