SUNY Oswego will begin using a standardized financial aid award letter for the 2013-14 academic year, as part of the SUNY system’s Smart Track campaign committing to transparency in college financing.
The new letter will allow students and their families to see clearly the cost of attendance and financial aid offerings at each SUNY campus, including campus-specific information such as graduation rate, median borrowing and loan default rate.
“Our new standard award letter will list in the clearest way possible the costs of an Oswego education along with available grants, scholarships and loans,” said SUNY Oswego President Deborah F. Stanley. “Because it will be standard throughout the SUNY system, prospective students and their families will be able to easily compare SUNY campuses when making their college choices.”
The SUNY Smart Track campaign gives prospective students the most comprehensive and transparent financial aid information available so that they can make informed decisions about how to pay for their college education, said SUNY Chancellor Nancy L. Zimpher.
Beyond the new standardized form, SUNY’s Smart Track campaign calls for an expansion of SUNY’s Student Loan Service Center, early engagement of students at risk of default and providing new and improved online resources such as a net price calculator, chats with financial aid experts and financial literacy materials.
The average indebtedness of a SUNY Oswego graduate is $19,476, well below the national average of $26,600 and the SUNY average of $22,575. Ninety-three percent of Oswego’s student loan borrowers repay their loans successfully.
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(Posted: Feb 19, 2013)