10:51 am
Fri November 16, 2012

Four Kentucky Universities Agree to Use "Shopping Sheets"

Four Kentucky universities will begin using a standardized financial aid letter aimed at helping students and parents better understand the costs of higher education.

This is an example of what students will receive from a university/college where they're enrolled or where they're applying.

The U.S. Department of Education announced Thursday that the University of Kentucky, Eastern Kentucky University, Bellarmine University and Louisville's University of Phoenix campus have agreed to use the “Financial Aid Shopping Sheet.”

The standardized letter is an initiative of the Obama administration and is designed to make it easier to compare costs among institutions.

The four Kentucky schools are among nearly 500 colleges and universities nationwide who will use the letter during next school year.

It includes the cost of one year of school, net costs after grants and scholarships are calculated and potential monthly payments for loans after graduation.