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Students now have a tool to help them avoid student loan debt: the new financial aid shopping sheet, a simple form explaining the costs, financing options, and loan options for prospective students. 

College students need to understand how much college costs and how much they will owe after graduation.  However, financial aid award letters often make it hard for students to answer these questions. Creating a standard form will help colleges create award letters that allow students and families to better understand and compare ways to pay for college.  The form prioritizes the most affordable ways to pay for college which will help millions of student avoid more expensive and risky options like private student loans. 

Colleges should include the new financial aid shopping sheet in their financial aid award packages to provide students and families a more clear and quick way to understand college costs.