State University of NY standardizing aid letters
BUFFALO, N.Y. (AP) - Students headed to college next autumn at one of New York's public universities should have a good idea of what it will cost them.
The State University of New York says all 64 campuses will begin using a standard financial aid award letter that will detail the cost of attending, financial aid offerings, as well as a school's graduation rate, median borrowing and loan default rate.
SUNY released samples of the letters this week.
Chancellor Nancy Zimpher says the initiative is part of SUNY's effort to decrease the loan default rate of SUNY students by at least 5 percent over the next five years.
The average default rate is now 13 percent.
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