Evaluating financial aid letters

A web site called FinancialAidLetter and belonging to U.S. News and World Report was recently launched. What makes the site interesting is that they post some actual financial aid award letters and evaluate them on the clarity of the information provided.

The web site currently has 5 letters written to actual financial aid recipients which are given a grade depending on the information provided in the letter. It may be helpful for students and their parents to see some actual financial aid award letters to see what they look like and to see some of the possible information included (or not included). The site indicates that they will be including more financial aid award letters which would provide even more help for students.

The web site also offers a glossary of financial aid terms as well as some financial aid tips. This portion of the web site is less helpful as the financial aid definitions include so many terms and often in such detail that people not familiar with the financial aid process may get confused. Also the tips are not as well organized as they could be to help people understand the financial aid process.