Last year, the pandemic put pressure on a system that was already undeniably stressful for all involved: college admissions. Students and families faced limitations around visiting campuses, colleges and universities grappled with the frustrating realities of remote learning and we all fretted about finances.

There aren’t a lot of decisions in life with such high financial stakes that require so many steps to get to the bottom line. During a period of intense anxiety made even more daunting by the uncertainties of the pandemic, not knowing your financial aid picture until the last minute is a significant pain point.

Unsurprisingly, the pandemic has caused worrisome enrollment declines at many institutions, early data from the National Student Clearinghouse Research Center show.

So here we are, closing in on application season once again, with January the standard deadline for many college-bound seniors applying to competitive four-year schools. What have we learned?

At Whitman College in Washington State, we have learned that it’s imperative to level with families about financial aid — it is time for liberal arts colleges to do more to make it easier for students to know where they stand. There’s no question that the cost of an elite education has risen dramatically in recent decades. (At Whitman, annual costs, without aid, are estimated at $71,182.)

At Whitman,the pandemic reaffirmed the value of a new initiative we launched in 2019: our Early Financial Aid Guarantee. What this program does is simple, even if the legwork behind the scenes is often anything but. We give interested students a guaranteed preview of their financial aid package before they even apply. As long as their family’s financial situation doesn’t change, they are guaranteed at least that amount in scholarships, grants and loans if accepted.

Read the full article about financial aid by Kathleen Murray at The Hechinger Report.