On July 25, 2012 the Department of Education issued a Dear Colleague Letter, GEN-12-12, regarding the Financial Aid Shopping Sheet format and requests the schools adopt this format to deliver financial aid offer information to your students beginning with the 2013-14 award year. The Secretary of Education released the Shopping Sheet on July 24, 2012, at http://www2.ed.gov/policy/highered/guid/secletter/120724.html, and requested college presidents to voluntarily adopt it.
The Department of Ed developed the Shopping Sheet as directed by Section 484 of the Higher Education Opportunity Act (Public Law 110-315) to serve as a model format for financial aid award letters. They developed the Shopping Sheet in cooperation with the Consumer Financial Protection Bureau. The development of this form is described on their Model Financial Aid Offer Form Web page at: http://www2.ed.gov/policy/highered/guid/aid-offer/index.html.
In addition, they are now discussing with financial aid software providers the development of software to help you deliver the Shopping Sheet. In the coming months, they plan to share additional information on this activity.
For more details on this Dear Colleague and the FA Shopping Sheet, please see the entire letter at, http://www.ifap.ed.gov/dpcletters/GEN1212.html.
FAS does plan on implementing the shopping sheet in the near future as soon as details are ironed out.