This is just a prototype, announced yesterday by the federal Consumer Financial Protection Bureau, of the preferred format for college financial-aid-package letters.
The idea behind the “Know Before You Owe” project is to make them standardized and easy to read so that students can compare various colleges’ offerings side by side.
It’s not the final format, though. The agency says it’s still soliciting the public’s input before it decides.
I’ll soon post comments by agency rep Raj Date on a number of reasons the current letters are so confusing.