By KEVIN ELLIS/APA-WILSHIRE-MARSHALL COUNTY, N.C. Schools can no longer be forced to spend more money than they need.
But students will still have to use the money to go to school, and they’ll have to do so in the most cost-effective way.
The College Board’s latest update to the College Cost Report is a sweeping overhaul of how college and university programs are financed.
The new College Cost Guide lays out guidelines that schools can follow to minimize the impact of the cost of attendance and ensure students can afford college.
The college and universities must set aside an equal amount of their costs to support students in the form of tuition, books, and other costs, the updated College Cost Survey says.
And they must ensure that all students who receive financial aid receive at least 90 percent of their aid.
It also says schools can set aside 10 percent of the amount they use for administrative expenses to cover the cost for extra staff, supplies, and supplies that are not covered by their own operating expenses.
It’s a significant shift for colleges and universities to go from a one-size-fits-all model to a more cost-efficient one.
In recent years, schools have shifted resources to cover more students, which has resulted in lower overall costs.
This means more money is being spent on students.
But this is a step forward for colleges to better manage the cost.
The new College Guide comes as the cost pressures continue to mount, with student debt still climbing and the U.S. economy faltering.
For the most part, college costs are still far below the national average.
But some states have begun to see increases in student loan payments and the average amount of debt is getting out of control.