Easfaa conference 2013 boston ma
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EASFAA Conference 2013 Boston MA. Anthony M. Sozzo Associate Dean Director of Student Financial Planning New York Medical College NASFAA GPIC Chair 2012-13. What Graduate Schools need to know about the Shopping Sheet Veterans and the Shopping Sheet

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Easfaa conference 2013 boston ma

EASFAA Conference 2013Boston MA.

Anthony M. Sozzo

Associate Dean

Director of Student Financial Planning

New York Medical College

NASFAA GPIC Chair 2012-13


Easfaa conference 2013 boston ma

What Graduate Schools need to know about the Shopping Sheet

Veterans and the Shopping Sheet

How other schools will use the Shopping Sheet

Audience Comments and Suggestions


Historical details

Historical Details

Aid offer notification—

  • In regulations through late 1980’s

  • Replaced by disclosure requirement in late 1987

  • Statutory changes—

    • In 1986—Federal Student Assistance Report

    • In 1992—“Federal” added to Title IV program names


Heoa requirement

HEOA Requirement

  • HEOA requirement for model aid offer format

  • Refocused attention on communicating aid offers

  • Goal of helping families make informed decisions about college

  • Required public meeting to discuss improvements & offer recommendations

  • Required development & distribution of model aid offer format

  • Public meeting held 9/13/11


Work with cfpb

Work with CFPB

  • After public meeting, began working with the Consumer Financial Protection Bureau

  • Logical connection—

    • Their focus on information to help consumers make good financial choices

    • Aid offer sets up conditions for financial transaction between student & school

    • Experience in developing and testing tools


Work with cfpb1

Work with CFPB

  • “Thought-starter” format discussed at 2011 FSA conference and later posted on CFPB website

  • CFPB expertise and 1,000+ comments helped develop the current version

  • Valuable suggestions on structure and organization

  • Work led to Financial Aid Shopping Sheet announced by Secretary Duncan in July


Shopping sheet for 2013 14

Shopping Sheet for 2013-14

  • Single sheet, standardized format

  • Can use as cover sheet with aid offer notification or as standalone notice of aid awards

  • Value as a consumer comparison tool

  • Designed for undergrads and may be modified for graduate students

  • Transparency and consistency in providing information to all students

  • Use is voluntary but strongly encouraged

  • Fulfills information requirements for key pieces of Executive Order 13607


Shopping sheet for 2013 141

Shopping Sheet for 2013-14

Student information

School information

Student’s cost of attendance

Information supplied by ED—

Graduation Rate

Loan Default Rate

Median Borrowing

Gift aid

Net costs

Work and loans

Loan repayment information

Other funding options

Contact information

Customized information


Coa grants net costs

COA – Grants = Net Costs


Work loan other options

Work, Loan, & Other Options


Outcome metrics

Outcome Metrics


Implementation for 2013 14

Implementation for 2013-14

  • Implementation

  • HTML code distributed 9/12

  • Software providers

  • EDExpress

  • Questions via [email protected]


Shopping sheet communications

Shopping Sheet Communications

  • 7/24/12: Secretary’s open letter to college presidents

  • 7/25/12: DCL to financial aid administrators

  • 8/30/12: DCL to institutions that agree to comply with the principles in Executive Order 13607

  • 9/11/12: EA with implementation details


Shopping sheet communications1

Shopping Sheet Communications

  • 9/25/12: Secretary’s blog post on ED.gov

  • 9/28/12: EA with HTML specs

  • Updates on OPE’s webpage

  • Annotated Shopping Sheet


Easfaa conference 2013 boston ma

The Order directs the Departments of Defense and Veterans Affairs to require those institutions to provide each of their prospective veteran and service member students with a personalized and standardized form describing the cost of the educational program and the amount of that cost that may be covered by available Federal education benefits and financial aid.  The Shopping Sheet provides this kind of information.  

The Order is available at: http://www.gpo.gov/fdsys/pkg/FR-2012-05-02/pdf/2012-10715.pdf. 


Contact information

Contact Information

We appreciate your feedback and comments and can be reached at:

  • Phone: 202-219-7031

  • E-mail: [email protected]

  • Phone: 202-502-7446

  • E-mail: [email protected]


Easfaa conference 2013 boston ma

Examples of Graduate school use of the Shopping SheetBank Street College of EducationandMiami University School of Law


Bank street college of education

Bank Street College of Education


Miami university school of law

Miami University School of Law


Easfaa conference 2013 boston ma

  • An all size, fits all Shopping Sheet, does not work for all sectors.

  • The Shopping Sheet was primarily created with undergraduate students in mind.

  • Graduate-specific challenges:

    • We are not allowed to customize the sheet to remove all undergraduate-specific programs. For example, the Federal Pell Grant and Federal Subsidized Stafford Loans are not needed for graduate students, since they are not eligible.

    • We are not allowed to include the PLUS Loan for graduate students under Loan Options, unless you include it under Federal Direct Unsubsidized Loan or you just include an explanation in the Customized Box area.

    • Required Metrics (cannot use a N/A designation, had to put 0 and explain in cusutomized box)

      • Graduation Rate (this is an undergraduate metric, not graduate)

      • Loan Default Rate (in some, if not most cases, this is a combined institution rate that includes undergraduate data)

      • Median Borrowing (this is an undergraduate metric, not graduate)

Challenges of the Shopping Sheet


Easfaa conference 2013 boston ma

  • Shopping Sheet is currently not required.

  • University of Miami signed the MOU.

  • Shopping Sheet not appropriate for graduate and professional students in its current format.

  • Felt it would cause more confusion or questions, rather than a “clear” consumer tool to assist in making informed decisions as it was intended.

Institution Review


Easfaa conference 2013 boston ma

Since the University of Miami signed the MOU we decided to only use the Shopping Sheet in 2013-14 for our active military and veterans.

Institution Decision


Easfaa conference 2013 boston ma

  • University of Miami signed the MOU

  • Shopping Sheet is made available to law students that have self-reported a military status using any of the following methods:

    • LSAC Admission Application

    • Contact with Veterans Affairs Certifying Official in the University's Office of the Registrar.

    • Contact with Military & Veterans Primary Contacts available in the School of Law

      • Office of Financial Aid

      • Dean of Students in Student Services

    • Referral to OFA and DOS, if contact with other administrative staff or faculty at the university

Shopping Sheet


Easfaa conference 2013 boston ma

Sample Shopping Sheet


Easfaa conference 2013 boston ma

Sample Shopping Sheet

Cost of Attendance


Easfaa conference 2013 boston ma

Sample Shopping Sheet

Grants & Scholarships


Easfaa conference 2013 boston ma

Sample Shopping Sheet

Net Costs


Easfaa conference 2013 boston ma

Sample Shopping Sheet

Loan Options


Easfaa conference 2013 boston ma

Sample Shopping Sheet

Customized Box


Easfaa conference 2013 boston ma

Sample Shopping Sheet

Graduation Rate


Easfaa conference 2013 boston ma

Sample Shopping Sheet

Loan Default Rate


Easfaa conference 2013 boston ma

Sample Shopping Sheet

Median Borrowing


Easfaa conference 2013 boston ma

Military and Veteran Information

(on the Office of Financial Aid website)

http://www.law.miami.edu/financial-aid/veterans.php?op=8


Easfaa conference 2013 boston ma

Contact InformationBrenda M. BrownDirector of Financial AidUniversity of Miami School of [email protected](305) 284-5032


Your thoughts thank you tony sozzo new york medical college

Your thoughts…Thank You Tony SozzoNew York Medical College


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