Shopping Sheet (now commonly called the College Financing Plan) is a federal model format for presenting cost and aid information so students can compare institutions more easily.
How it works
The institution populates the template with the student’s COA, offered grants, and loan options, and includes institution-level graduation and median-debt figures. The completed form is delivered with the award letter or made available online. Students can place Shopping Sheets from different institutions side by side. Data definitions follow federal guidance so that “net cost” and other terms are used consistently.
Example: a student receives College Financing Plans from three online universities. Each plan uses the same layout, allowing the student to see quickly that one school offers $4,000 more in grants but has a higher median debt and a lower graduation rate.
How it differs
An institutional award letter may contain more detail about specific fund sources and acceptance steps. A net-price calculator is an earlier estimate. College Scorecard is a public data tool, not a personalized offer. The Shopping Sheet/College Financing Plan is a standardized presentation of the personalized offer plus selected institutional metrics.
Common errors
Treating the Shopping Sheet as a binding contract. Assuming every institution uses identical COA components even when the form is standardized. Ignoring the difference between grants and loans on the form.
References
- 1. College Financing Plan (formerly Shopping Sheet)Federal model format
- 2. Institutional adoptionVoluntary or required use
Shopping Sheet (now commonly called the College Financing Plan) is a federal model format for presenting cost and aid information so students can compare institutions more easily.