Graduating ClassA final model “financial aid shopping sheet,” the result of a collaborative effort by the CFPB and the Department of Education, has recently been issued by the DOE.  The shopping sheet is intended to serve as a uniform financial aid disclosure form. 

Following the CFPB’s release of feedback it received on a draft of the shopping sheet, the task of finalizing the shopping sheet fell to the DOE (which under the Higher Education Opportunity Act, was required to submit recommendations for a model financial aid offer form by August 14, 2009—a year after the law was enacted.) … Continue Reading

Last week, the CFPB released to the public a memo it had sent to consumers and industry members who participated in its “Know Before You Owe” student loan project reporting on the feedback it received. The project, described as the product of the CFPB’s partnership with the Department of Education (“DOE”), solicited comments on a “financial aid shopping sheet” which was actually a draft model financial aid form.… Continue Reading