USC is among the first 360 universities and colleges in the United States to meet the new standards set by the College Cost Transparency Initiative (CCT) for cost transparency and aid disclosure. This initiative aims to provide clarity and accuracy in financial aid packages and cost estimates for students and their families.
To become a part of the CCT, universities and colleges had to review their financial aid award summaries to ensure that their financial aid and cost information is transparent and accurate. USC has been dedicated to making its financial aid offers easily understandable for students and families.
The CCT’s standards require financial aid award letters to clearly outline attendance costs and provide comprehensive details of student financial aid packages, including grants, loans, scholarships, and other relevant financial information.
The initiative’s goal is to help students make informed decisions by allowing them to accurately compare offers from different institutions. The CCT was launched with support from higher education associations and is designed to enhance the transparency, accuracy, and comprehension of student financial aid offers.
USC President Carol L. Folt, who chairs the Association of American Universities’ Board of Directors, played a role in the development of the initiative’s guiding principles and minimum standards. The initiative is managed by the National Association of Student Financial Aid Administrators with support from the Strada Education Foundation.
Peter McPherson, chair of the CCT task force, emphasized the importance of clear, accurate, and upfront information for students and their families when making decisions about college. The CCT’s principles and standards aim to provide such information.
By joining this initiative, USC and other universities are committing to giving students and families the information they need to make informed decisions about higher education costs and financial aid.
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