Clearly Communicate Price and Financial Aid
Financial aid is a confusing terrain for students and parents alike. Complex jargon, hidden fees, and misconceptions about loan repayment are barriers to enrollment, and many students are deterred based on sticker price alone. Delivering financial aid touchpoints that immediately break down net price, use clear language, and provide guidance to students at points of uncertainty will increase the likelihood that financial aid is a bridge to further engagement with students in the enrollment process.
Design online cost and financial aid content for maximum transparency
Transparency in online financial aid information goes beyond the traditional net price calculator. As most students begin their college search on the university website, make sure the information they see won’t scare them away. Include strong graphic presentations of financial aid numbers, a breakdown of sticker versus net price, and a more user-friendly calculator that requires less burdensome user input.
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