Professional Documents
Culture Documents
Section 2. Definition
(a) Schools refer to higher education, like colleges and universities.
1 Federal Reserve Bank of St. Louis, Student Loans Owned and Securitized, Outstanding,
https://research.stlouisfed.org/fred2/series/SLOAS.
2 Federal Reserve Bank of St. Louis, Personal consumption expenditures: Services: Higher
education, https://research.stlouisfed.org/fred2/series/DHEDRC1A027NBEA.
1
(b) Federal student loan providers may include Federal Perkins Loan, Federal Family
Education Loan (FFEL) and Federal Direct Student Loan (FDSL).
(ii)
(iii)
Issuing annual reports on the activities and assessments that it conducts, including
the assessment-making process, to maintain its transparency and accountability,
(iv)
(v)
Sharing its information and assessments with the Advisory Center, and assessing the
activities of the Advisory Center and the Federal student loan providers.
Making financial models for higher education to support people in different financial
situations and with different needs,
(ii)
Providing concrete financial advice on higher education for those who need support,
and
(iii)
Advising the Federal student loan providers on loan plans and loan-receiver
assessments based on the Information Centers assessments.
(ii)
Living expenses are fees for living necessities, including housing, food, etc.
(iii)
Other expenses are fees that are necessary and spent for other purposes than tuition
and living expenses.
(iv)
(b) Financial support is college or university based financial support plans, including financial
aid, scholarship and loans, and may be measured by scale, variety, and accessibility.
(i)
Scale refers to the amount of financial support that a school provides for its students.
(ii)
Variety refers to the different kinds of financial support that a school provides to its
students.
(iii)
Accessibility refers to the number of students that qualify for financial support from
the school
(c) Services are both academic and non-academic services that schools provide for students in
return for the costs, and may be measured by the quality of academic programs and of nonacademic services.
(i)
Academic programs are measured by the quality of academic activities and support,
such as classes and tutoring system, that a school provides in return for the costs
(ii)
Non-academic services like clubs and events are measured by the quality of nonacademic activities that a school provides in return for the costs.
(d) The Information Center maintains up to date scores of a school. The Information Center
bases the score on the three measures of costs, financial support or services. Such scores
change based on the actions or activities that colleges and universities take to improve
affordability, and future plans of their costs, and financial support and services.
(e) The Information Center makes the assessment publicly accessible through its website. The
details of the assessment-making process, and the scores and the ranking of college
affordability shall be included in its annual report that is issued at the end of each school
year.
(f) For the purpose of the assessment, the Information Center has the authority to determine the
measurements of the assessment, but it is also obliged to make the assessment-making
process transparent and report to the public.
Section 5. Recommendations
Based on the assessments of college affordability, the Information Center makes
recommendations to colleges and universities that are ranked low in terms of measurement.
(a) Any recommendation made by FCCA is non-binding, and colleges and universities bear no
legal obligation to follow the recommendations that they receive.
(b) Recommendations have to be advisory and shall only include details of the assessment for
the college or university to which recommendations are made and possible solutions to
improve the score and affordability.
(c) Recommendations shall be sent to the colleges and universities that are ranked within the
lowest one to ten percent of the schools that are assessed. The Information Center has the
authority to determine which colleges and universities that it makes recommendations to, but
the decision has to be based solely on the latest assessments, scores and ranking.
(d) The Information Center has to reflect on the feedback from the Advisory Center when
making recommendations.