New York A03464 mandates that student financial aid award letters include information on net costs and loan options.
New York A03464 requires financial aid award letters to include details on net costs, defined as the estimated costs of attendance after financial aid that does not require repayment, and options for loans that do require repayment. The superintendent of financial services, in consultation with the president of the higher education services corporation, must develop a standard financial aid award letter.
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