Joelle Fredman, staff reporter for the National Association of Financial Aid Administrators (NASFAA), today highlighted CampusLogic’s latest data report, Clear Disparity: New Data Adds Consumer Voices to Award Letter Confusion Debate. NASFAA represents more than 28,000 student financial assistance professionals at nearly 3,000 colleges, universities, and career schools across the country. NASFAA member institutions serve nine out of every 10 undergraduates in the U.S.
Fredman's article focused on the report's findings about consumer confusion among students and parents of different ages, races, and income levels. The result of a survey of 1,000 students, 750 parents, and 230 financial aid professionals, the survey asked participants to highlight specific areas on the College Financing Plan (CFP) they found to be confusing or unclear. The results were eye-opening, with 74% of students holding a credential reporting confusion over wording or an amount on the CFP—and almost 3 out of 5 parents finding some wording or phrasing to be unclear.
Carlo Salerno, CampusLogic VP of Research, and Amy Glynn, CampusLogic VP of Student Financial Success, highlighted the clear disparity between what financial aid professionals believed consumers would find confusing and what they actually found confusing—further shedding light on the disconnect that exists between institutions and consumers who need to use award letters to make informed financial decisions.
“If you take only one thing away from this report and these recommendations, let it be this: the research conducted by CampusLogic strongly supports the notion that there is no one thing that confuses every student and parent,” the authors wrote.
Read Fredman's complete article on NASFAA's website here.