Delaware Senators Tom Carper and Chris Coons are among the cosponsors of a bill to make it easier for families to figure out how much a college education will cost them.
In a joint statement, Carper and Coons say in the current financial aid system, schools often provide varied and confusing descriptions of their financial aid awards. The bill that’s been introduced in the Senate would require schools to use a universal financial aid award letter. In 2010, nearly 20 percent of U.S. households owed money on student loans, and 40 percent for household heads that were younger than 35, according to a Pew Research study.
Senators Barbara Mikulski and Ben Cardin of Maryland have also cosponsored the bill.
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