On Tuesdsay, the Department of Education unveiled a model financial aid award letter called "The Shopping Sheet." The form clearly outlined the net cost (after grants and scholarships); financial aid options (with loans clearly marked), as well as potential monthly payment amounts for a federal student loan. 

"Almost every day, President Obama gets letters from students who are swimming in student loan debt (…)," Cecilia Muñoz, the director of the White House Domestic Policy Council, said in her post on the White House blog." While this Administration continues to do everything we can to make sure that college remains affordable and available (…) we also are focused on making it easier for families to understand the costs and benefits of higher education up-front, so that they can more easily choose a college that is both high-quality and affordable." 

Along with the release, Secretary of Education Arne Duncan sent a letter to all college and university presidents asking them to implement the government's "Shopping Sheet" in lieu of their own starting in the 2013-14 school year.

The Shopping Sheet can be viewed on the Department of Education's website here.

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