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College Website and Publications Requirements: Finance

This section of the College Website and Publication Requirements covers issues related to finances.

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Citation

RCW 28B.92: State Student Financial Aid Programs

Frequency

Continuous

Location

Website

Description

Community and technical colleges shall provide financial aid application due dates and information on whether or not financial aid will be awarded on a rolling basis to their admitted students at the time of acceptance.

Key requirements of the bill, should your college not already be doing so, is a potential modification of the admission acceptance letter or similar student communication. The requirements include:

  • financial aid priority deadline date(s)
  • awarding policy, such as ‘first come-first served’ or ‘as allocated funds allow.”

Coordination with your college’s financial aid professionals for applicable wording is highly recommended. The bill also encourages institutions of higher education to post financial aid application dates and distribution policies on their websites. The key word here, is encourages, and is not a requirement.

Example

Bates Technical College Financial Aid

Citation

Higher Education Opportunity Act of 2008

Frequency

Continuous

Location

Website

Description

Information on Net Price Calculator requirements, template and calculator web addresses may be found on the National Center for Education Statistics Net Price Calculator Information Center website. This is an interactive tool.

Example

Highline College Net Price Calculator

Citation

Executive Order 13607

Frequency

Once to prospective and current students receiving federal military and veteran educational benefits and to prospective students who would receive these benefits.

Location

Mailed or emailed once

Description

The Financial Aid Shopping Sheet template is a consumer tool that participating institutions use to notify students about their financial aid package. It is a standardized form that is designed to simplify the information that prospective students receive about costs and financial aid so that they can easily compare institutions and make informed decisions about where to attend school. The Shopping Sheet became available for use beginning in the 2013-2014 award year.

In July 2012, the Department unveiled the 2013-2014 version of the Shopping Sheet. At the same time, the Education Secretary published an open letter to college and university presidents asking institutions to adopt the Shopping Sheet for use during the 2013-2014 school year. On Dec. 13, 2013, the Department released the 2014-2015 edition of the Shopping Sheet. As of April 2015, over 2,900 institutions have voluntarily adopted the Shopping Sheet, representing institutions nationwide from all sectors of higher education.

Additional Guidance

Financial Aid Shopping Sheet from the US Department of Education

Citation

RCW 28B.15.045: Services and activities fees — Guidelines governing establishment and funding of programs supported by — Scope — Mandatory provisions — Dispute resolution

Frequency

 Annually by Sept. 30

Location

 Website

Description

Annually by Sept. 30, the S&A fee expenditures for the prior academic year must be posted on the college’s website.

Example

Wenatchee Valley College Services and Activities Fees Expenditure Report 2011-2012

Citation

RCW 28B.15.0681: Information provided to students on tuition billing statements or website — Notice of federal educational tax credits

Frequency

Annually

Location

Required on resident student tuition billing statement. Optional on other publications. 

Description

Through Opportunity Pathways, Washington state provides a variety of financial aid programs to help students and their families pay for college.

Pursuant to RCW 28B.15.0681, the approximate level of state support received by students is provided to colleges by the SBCTC on an annual basis.

Colleges extract from SBCTC-provided letter information to include on tuition billing statement.  The current State Support of Higher Education Students letter can be found at the  Student Services Resources for College Staff page.

Example

Big Bend Community College State Support Letter

Citation

RCW 28B.15.068: College and university fees

Frequency

Continuous

Location

All forms of communication, “to the greatest extent possible.”

Description

Colleges shall use all means to ensure information about relevant tax credits is available to students. Most colleges have a link to IRS Publication 970: Tax Benefits for Education.

Example

Everett Community College IRS 1098-T Tuition Statement American Opportunity Credit

Citation

  • RCW 28B.15.0681: Information provided to students on tuition billing statements or website — Notice of federal educational tax credits
  • RCW 28B.76.500: Student financial aid programs — Administration by office — College information web-based portal

Frequency

Continuous

Location

 Tuition billing statement

Description

Colleges shall disclose to undergraduates on tuition billing statements: full cost of instruction, amount collected, difference between cost of instruction and tuition (which must be called the “opportunity pathway”). Financial aid awarded to undergraduates must also be labeled “opportunity pathway.” All other aid must also be disclosed. Additional disclosures are required related to institutional revenue, tuition, performance and federal tax credits. 

Example

Uniform message to students is part of web registration.

Page Manager: krose@sbctc.edu
Last Modified: 11/7/17 9:12 AM

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