Also included in the model letter is information on the institution itself, such as six-year graduation rates, the percentage of student loan borrowers who default on their loans and the median amount students borrow to go to school.
Matt Hamilton, the University of Oklahoma's vice president for enrollment and student financial services, said OU's financial aid letter gives students nearly all the information in the Shopping Sheet model.
OU's letter doesn't include the net price the student could expect to pay, he said, but students can get that information by using the net price calculator on the university's website.
Hamilton said he thinks the Shopping Sheet model is easy to read and understand. OU officials will be looking more at the model to find ways to tailor OU's letter to the model.
University of Central Oklahoma officials also plan to determine how the model could be adapted, said UCO spokeswoman Adrienne Nobles. UCO financial aid officials only became aware of the new model Tuesday, she said.
Matt Short, associate director of scholarships and financial aid at Oklahoma State University, said OSU also doesn't yet have plans for if and how the university would adopt the model.
OSU's current financial aid letter includes a breakdown of all awards available to students. The letter doesn't include information such as six-year graduation rates and student loan default rates, he said, but the letter sent to new students includes directions on finding such information on the university's website.
“We include a lot of information,” he said. “It's pretty extensive.”