UAlbany Implements Standardized Financial Aid Award Letter for Fall 2013
SUNY Smart Track program will enable students to better make informed decisions about the financial costs associated with college. (Photo by Mark Schmidt)
ALBANY, N.Y. (February 19, 2013) – The University at Albany today announced it will implement a standardized financial aid award letter for the 2013-14 academic year, as part of the SUNY Smart Track™ campaign. The enhanced letter is one way in which UAlbany is working with SUNY to expand transparency in college financing for its students.
The new letter will offer students and their families a clear outline of the cost of attendance and financial aid opportunities at UAlbany, including graduation rate, median borrowing, and loan default rate.
“The SUNY Smart Track program provides prospective students the information they need to make informed decisions about the financial costs associated with college,” said Robert Andrea, UAlbany's associate vice provost for enrollment management. “As we continue to arm our students with this vital information, we can support the Chancellor’s goal of helping decrease the loan default rate of SUNY students across the 64 campuses.”
UAlbany has been working with SUNY on the development of the standard financial aid award letter since the launch of the SUNY Smart Track campaign in September 2012. The program offers students the most proactive, comprehensive financial aid information and services in the country.
The SUNY Smart Track™ Award Letter was developed by a committee of campus Financial Aid Directors, and others, who were tasked with adopting the intent of the federal Financial Aid Shopping Sheet while creating a unique version for SUNY. Additionally, the 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.