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Goldey-Beacom College Joins National Initiative on College Cost Transparency

FOR IMMEDIATE RELEASE

by Janine G. Sorbello

Wilmington, DE (11/19/2025) — Goldey-Beacom College (GBC) is pleased to announce it has joined the College Cost Transparency Initiative (CCTI), a national effort to ensure students and families have access to clear, accurate and understandable information about college costs and financial aid.

By becoming a CCTI member, the College reaffirms its commitment to promoting transparency, affordability and informed decision-making for prospective and current students. The Initiative, a coalition of more than 720 colleges and universities that have voluntarily made a public commitment, calls on colleges and universities to follow a set of principles and standards that ensure transparency, clarity and understanding around student financial aid communications. Together, these institutions serve nearly seven million college students in all 50 states, Puerto Rico and Guam.

"College affordability and transparency go hand in hand," said Dr. Colleen Perry Keith, GBC's President. "By joining the College Cost Transparency Initiative, Goldey-Beacom reaffirms its responsibility to ensure families have the clear, accurate information they need to plan wisely. This effort underscores our dedication to financial accessibility and to helping every student begin their GBC journey with confidence and understanding."

The CCTI, a national initiative formed by the National Association of Student Financial Aid Administrators (NASFAA), the American Council on Education (ACE) and eight other higher education associations in 2022, brings together executive leadership on campus and those working directly with students each day to promote common language in aid offers, a key tool enabling students and families to make side-by-side comparisons and well-informed decisions.

"Students and families need upfront, accurate and clear information when making decisions about college," said ACE President Ted Mitchell. "It's important to have standard terminology and clear requirements on what is to be included in financial aid offers. When institutions do this, they uphold their responsibility to be explicit about an education's cost and value. This is an opportunity for them to lead and make a difference."

Managed by NASFAA, the CCTI aims to support families' long-term financial planning and minimize their loan burdens.

"Understanding the cost of college is one of the most critical steps in helping students and families make informed, confident decisions about their educational futures," said Melanie Storey, president and CEO of NASFAA. "If this project has shown us anything, it's that this work is complex, but can be accomplished when institutional leaders and practitioners make cost transparency a priority. By joining this initiative, institutions demonstrate their dedication to transparency and ensure that students have a clear understanding of the financial commitments associated with their college education."

CCTI member institutions agree that cost information should be easily accessible to prospective students and families to encourage comparability and equal access. In particular, the coalition's principles and standards require that financial aid offers to undergraduate students:

Are transparent, ensuring that costs are clear for students and families, and include the most accurate possible cost estimate.

Describe and explain all types of aid being offered, using standardized, plain language.

Prominently display critical components, such as an estimate of the student's total cost of attendance, broken down by costs to be paid to the institution and costs paid to others; types and sources of financial aid being offered, separated into grants and scholarships, student loans and student employment or work; an estimated net price; aid renewability requirements; and more.

Provide information about employment requirements and information on job placement, if student employment is offered.

Explain the terms and conditions and information on how much student loan debt may cost over time, if federal student loans are included.

About the College Cost Transparency Initiative In the fall of 2022, the leaders of 10 higher education associations representing college presidents, financial aid offices and admissions and school counselors announced the formation of a task force, the College Cost Transparency Initiative (CCTI), to improve the clarity, accuracy and understanding of student financial aid offers by producing a set of guiding principles and minimal standards to be used when communicating aid offers.

The CCTI task force's sole focus and mission were to encourage and assist institutions in communicating with students and families about college costs in a clear, accurate and helpful manner. Broader issues and concerns of importance to colleges and students, such as the cost of attendance and sources of financial support for students, were not discussed or considered by the task force. www.collegeprice.org

About NASFAA

The National Association of Student Financial Aid Administrators (NASFAA) is the only national, nonprofit association with a primary focus on information dissemination, professional development, and legislative and regulatory analysis related to federal student aid programs authorized under Title IV of the Higher Education Act of 1965, as amended. Its membership consists of more than 29,000 financial aid professionals at nearly 3,000 colleges, universities and career schools across the country. NASFAA member institutions serve nine out of every 10 undergraduates in the United States. www.nasfaa.org

About Goldey-Beacom College

Founded in 1886, Goldey-Beacom College has approximately 1,300 students enrolled from 29 states and 65 nations. The College offers 48 degree options in its graduate and undergraduate programs with majors in psychology, economics, criminal justice, communication & media, human services, English, and all areas of business, including accounting, business administration, entrepreneurship and finance.

The College is committed to connecting its graduates with careers in their respective fields. For over a decade, the College has long boasted a more than 90% positive outcome rate for graduates. Goldey-Beacom College is in Pike Creek Valley, a suburb of Wilmington, Delaware. The College is accredited by the Middle States Commission on Higher Education and the Accreditation Council for Business Schools and Programs. www.gbc.edu

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