Initiative Developed to Enhance Clarity and Understanding of Student Financial Aid Offers in Higher Education
FLUSHING, N.Y., Oct. 6, 2023 /PRNewswire-PRWeb/ -- Vaughn College has pledged its inclusion in the College Cost Transparency Initiative (CCT), a coalition of more than 360* institutions of higher education that have voluntarily committed to follow a set of principles and standards that ensure transparency, clarity, and understanding around student financial aid offers. Together, these institutions serve more than 3.5 million college students in the United States.
"Understanding the financial commitment it takes to attend college and receiving upfront, accurate, and clear information beforehand is key to a student's success," said Vaughn College President Dr. Sharon B. DeVivo. "We continually strive to support our students in every way along their academic journey and we are firmly committed to providing students with a crystal-clear understanding of the costs involved in their education."
The principles and standards recommended by the CCT were developed by a task force composed of the leaders of 10 higher education associations representing college presidents, financial aid offices, and admissions and school counselors to respond to the needs of students and families.
Research conducted by the Association of Public and Land-grant Universities (APLU®) found evidence that a college degree significantly improves one's employment prospects and earnings. Additionally, bachelor's degree holders are 50% less likely to be unemployed as compared with their peers who only have a high school degree and college graduates make $1.2 million in additional earnings on average over their lifetime.
"We know how important obtaining a college degree is to a student's earning potential," stated DeVivo. "Vaughn College has many first-generation students who often come from under resourced communities, and we know how a degree can change the trajectory of not only the individual student but their whole family."
The College Cost Transparency Initiative will be managed by the National Association of Student Financial Aid Administrators (NASFAA) through a grant from Strada Education Foundation.
VAUGHN COLLEGE: Founded in 1932, Vaughn College is a private, nonprofit four-year college that enrolls more than 1,200 students in master's, bachelor's and associate degree programs in engineering, technology, management and aviation on its main campus in New York City and online. The student-faculty ratio of 13 to 1 ensures a highly personalized learning environment. Ninety-eight percent of Vaughn College graduates, are employed in professional positions or choose to continue their education within one year of graduation. The institution serves many first-generation college students and is recognized by the US Department of Education as a Hispanic-Serving Institution. In a study conducted by The Equality of Opportunity Project, and reported in The New York Times, Vaughn was ranked number one in upward mobility nationwide and as a top college for social mobility by U.S. News & World Report. For more information on Vaughn College, please visit http://www.vaughn.edu.
Media Contact
Elena Garcia, Vaughn College, 7184296600, [email protected], http://www.vaughn.edu.
Maureen Kiggins, Vaughn College, 7184296600, [email protected], http://www.vaughn.edu.
SOURCE Vaughn College
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