College Aid Pro Issues Merit Scholarship Transparency Report Card

643 U.S. Public and Private Colleges and Universities Graded

BOSTON, Nov. 8, 2022 /PRNewswire/ -- College Aid Pro (CAP), a technology platform and team of college planning experts helping families find the most affordable path to college, is sharing the results of its study on scholarship transparency, "CAP Report Card: Merit Scholarship Transparency". The paper focuses on merit-based aid and looks at 643 public and private colleges in the U.S.

"Paying for college is the number one financial concern for families today due to the rising cost of higher education and the increasing complexity in which colleges advertise and discount this cost," said Kevin Degnan, CEO of CAP. "Regretfully, families will continue to be at a major disadvantage if colleges are not transparent about their ultimate net cost. To combat this power imbalance, we researched and developed this white paper to better educate families and to start a dialogue with the colleges and universities themselves about their critical role in the Student Debt Crisis."

The paper shines a light on how transparent colleges are with merit-based aid offered to accepted students. Currently, there is no required method for schools to follow when it comes to issuing merit-based scholarships, leaving each college to decide how upfront or opaque it wants to be.

The grading system evaluates clarity of requirements, clarity of award amounts, and consistency in application. A combination of quantitative and qualitative sources reviewed include: the college's website; government reports; direct communication with colleges; verification of published and intuited criteria based on CAP's database of actual award letters; and CAP's proprietary projection engine that incorporates real-time changes.

• 107 schools (17%) received As because they provide clear, readily available information on the merit awards and the criteria used. The school's Net Price Calculator (NPC) also includes merit awards in its projections.
• 413 colleges and universities (64%) received grades of B, C, and D due to the lack of transparency in criteria, vagueness in amounts granted, or exclusion of merit from NPCs.
• 83 schools (13%) received failing grades because they share only minimal guidance on merit aid, leaving applicants in the dark about possible scholarships until they receive their award letter.
• 40 schools (6%) were excluded from the grading because they do not provide merit-based aid.

To receive a copy of the report, visit: https://collegeaidpro.com/cap-report-card-merit-scholarship-transparency-rankings/.

College Aid Pro's Mission is to End the Student Debt Crisis by empowering families to shop smarter for college. CAP's cutting-edge software, support, and education platform is built on its expert team's 100+ combined years of direct experience helping families navigate the cost of college. The MyCAP platform gives families their actual customized cost projections at every school in the country, plus expert 1-on-1 advice to plan for, and save on, the cost of college.

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SOURCE College Aid Pro, Inc.