Research study explores how institutions communicate cost and financial aid while identifying opportunities to strengthen the student and family experience throughout the enrollment journey

AUSTIN, TX – May 21, 2026

Encoura®, an industry-leading educational technology, marketing, and research organization, today introduced its inaugural College Affordability and Financial Aid Communication Practices Report, finding that while colleges and universities are investing heavily in financial aid communication and affordability support, many students and families continue to face uncertainty when navigating cost, borrowing, and financial aid decisions.

The report examines how institutions communicate cost, aid, FAFSA completion, borrowing expectations, and yield-stage affordability support to prospective students and families. Drawing on responses from 154 four-year public and private colleges and universities nationwide, the report highlights both progress and persistent gaps in how institutions support families through the enrollment journey.

Institutional Confidence Around Value Communications 

The findings show that institutions widely provide affordability communication through email, websites, financial aid webinars, text messaging, and one-on-one support. However, they also reveal that many colleges still rely on fragmented or reactive communication models that can leave students uncertain at key decision points.

"Students and families are not simply evaluating price. They are evaluating whether institutions feel transparent, coordinated, and trustworthy throughout the financial aid process," said Raquel Bermejo, Director of Thought Leadership at Encoura and author of the report. "The research shows that institutions have an opportunity to move beyond delivering information and toward creating clearer, more supportive affordability experiences."

Key Findings:

• Affordability and ROI messaging strategies exist at many institutions, but formalization and consistency vary widely.
• Net price calculators are widely maintained but not always closely managed.
• Early personalized cost estimates are not yet standard in institutional communication practices.
• Borrowing conversations are nearly universal, but projected total debt and repayment modeling are less consistently embedded.
• Nearly all institutions provide FAFSA support, yet structured completion strategies remain uneven.
• Affordability outreach during the yield phase is common, but systematic tracking of melt by financial aid behavior remains inconsistent.
• Communication with families about affordability remains inconsistent, only moderately personalized, and often focused more on delivering information than helping families confidently interpret cost and financial risk.

The study also highlights growing institutional interest in designing affordability communication as a coordinated enrollment strategy rather than a standalone financial aid function. Recommendations include earlier borrowing guidance, more transparent cost communication, proactive FAFSA outreach, and strong coordination between admissions, marketing, and financial aid teams.

The report offers insights and action checkpoints to help institutions intentionally align and design the full affordability experience — from net price calculators and scholarship communication to borrowing guidance and yield support — and better position themselves to strengthen student trust, improve enrollment confidence, and support persistence.

Download the full report to learn more and for institutional actions to strengthen the affordability experience for your prospective students and families.