For nearly four decades, the federal government had no authority to regulate cost of attendance, impacting students' financial aid and access to higher education, but recent legislative changes may alter that.
A report from the Hope Center highlights that around half of institutions miscalculated living costs, suggesting that the Education Department issue guidance to improve COA accuracy.
Sarah Austin from the National Association of Student Financial Aid Administrators expresses concern that regulations could limit flexibility, stating there is no 'one-size-fits-all' solution to COA estimates.
Ultimately, while miscalculations in cost of attendance are prevalent and problematic for student aid, the approach to regulation must consider diverse institutional needs.
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