Download or read book Redesigning the Financial Aid System written by Robert B. Archibald and published by JHU Press. This book was released on 2002-12-13 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: Archibald argues that one of the problems with the current model - in which universities are responsible for the majority of grants, while the federal government provides student loans - is that a student cannot know the final price of attending a given institution until after he or she has applied, been accepted, and received a financial aid offer. As a result, students remain largely uninformed about the cost of their college educations until very late in the decision-making process, and thus have difficulty making a timely choice. In addition, financial aid information is kept private, creating confusion over the price of a college education and the role of financial aid.