PSU joins nationwide effort for financial aid transparency

Navigating financial aid at Portland State will be even easier for students and their families in the new year. PSU has joined more than 300 institutions nationwide in joining the College Cost Transparency Initiative, which is organizing an effort to standardize financial aid offers and ensure award information is transparent and easy to understand.

“PSU has been and will continue to be committed to making college affordable and accessible for everyone, especially for first-generation students,” said Chuck Knepfle, vice president of Enrollment Management at Portland State University. “There are no other Oregon public universities currently agreeing to participate in this program. We hope that by leading the charge toward full transparency and student financial wellness, we will also be encouraging our colleagues in the state to make the same commitment.”

To ensure students are certain they understand how much they will need to pay and the potential loan burden, Portland State’s award letters will see two main changes. First, every financial aid letter will reiterate the university’s commitment to transparent information. Second, the letters will include a separate glossary of financial aid terms and definitions to help students understand the terminology related to their financial aid package.

Knepfle said the glossary will help students understand their offer from PSU, as well as offers from other universities that may not be a part of the College Cost Transparency Initiative.

“While we want students to choose PSU for their education, we want to ensure they do so with all of the relevant financial and cost information at their disposal,” Knepfle said. “We have a genuine desire to be part of the solution around financial literacy — it's the right thing to do.”

Portland State’s new award letters will be sent to students planning for the 2024-25 academic year in the coming months.