To be honest, I don't remember if new PNMs parents have to sign financial awareness statements. I do know that the collegiate and parent/guardian are required to sign our chapter's housing agreement so that the parent/guardian is aware of the costs, liability issues, etc.
Parents are also sent scholarship status letters to let the parents know how the chapter is doing. ((This past semester was great!))
AGD has a "Strive for Pi" (3.14 GPA) scholarship program and many chapters have Parents' Clubs. If your new chapter doesn't have one, see about starting one. The other parents will appreciate it!
Good luck!