Know Before You Owe – CFPB

The CFPB as part of their efforts to help college students know how much they will owe to attend specific colleges and help schools improve the information they present to prospective students and their families, has developed a draft financial aid shopping sheet and are requesting comments. See yesterday’s CAFLM Blog or go to the CFPB Web site.

In addition, the CFPB Web site has an interactive page for us to rank various features of a financial aid offer.  See below.

Rank these features

We’d also like you to tell us what you think the most important features of a financial aid offer are.

The school’s graduation rate

Whether students at this school have been able to repay their loans

My likely ability to repay my loans

What I pay compared to the average student at this school

What I pay compared to the average student at this type of school (public 2-year, private 4-year, etc.)

Estimated debt at graduation

Estimated monthly payment after graduation

My expected debt compared to national averages

A complete breakdown of costs at this school, by catergory

To submit your opinion, go to the CFPB’s Know Before You Owe.

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