Q: Do I need to submit a sample aid offer in order to have my commitment recognized by the CCT?
A: Submitting an aid offer is optional at this time. However, we encourage schools to submit one so we can confidentiality review it and work with a school if it doesn’t meet the principles and standards. In the future, we are likely to designate which schools have submitted an aid offer and which schools haven’t as a way to maintain the reputation of the overall initiative.
Q: Who will see my aid offer if I submit? What’s the review process like?
A: Only CCT staff will see an aid offer that’s submitted. They will not be shared publicly unless explicitly asked for permission. A CCT staff person will review your submitted aid offer against the CCT standards. If the aid offer meets all the requirements, you will receive an acceptance acknowledgement and will be listed on the CCT website under institutional partners. If your aid offer does not meet the CCT standards, a CCT staff person will reach out to you with suggested revisions to come into compliance. If you decide to make those changes to your aid offer, you may resubmit for review.
Q: When will my commitment be made public?
A: While we have begun outreach to institutions, there will be no public announcement regarding the CCT prior to September. Institutions will be recognized on our public-facing materials on the date their updated aid offers go into effect. If your current financial aid offers already align with CCT’s principles and standards, you will be listed on our website as soon as we have reviewed your submission.
Q: When do you expect aid offers to be in compliance with CCT principles and standards?
A: The expectation of the CCT task force is that schools come into compliance as soon as possible, but we understand that many may not be able to make changes until their 2024-25 aid offers or later. However, our hope is that many schools may already be in compliance for 2023-24. However, if a school does need to make changes to their aid offers, we understand that system changes take time.
Q: What is the most common mistake we should be looking out for on our aid offers before submitting?
A: Not including Net Price or calculating Net Price incorrectly. Net price should be clearly labeled as such, and calculated by subtracting the total dollar amount of scholarships or grants the student has received from the total cost of attendance (direct and indirect costs).
Q: What can I do if I don't believe a school listed as a partner institution has an aid offer that meets the CCT principles and standards?
A: Please send an email to [email protected] letting us know the name of the institution and someone from the CCT staff will reach out to the institution in question.