S. 1452 · 117th Congress
Understanding the True Cost of College Act of 2021
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
GrassleySponsor8 cosponsors · 5 D, 3 R
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill requires standardized financial aid terminology and offer forms.
What it does: CRS summary · Introduced in Senate · Apr 29, 2021
Understanding the True Cost of College Act of 2021
This bill requires standardized financial aid terminology and offer forms.
Specifically, the Department of Education (ED) must develop standard terminology and a format for financial aid offer forms based on recommendations from representatives of certain groups, including students, veterans, and institutions of higher education (IHEs).
The consumer-friendly form must include specified details and disclosures, including the estimated cost of attendance, the net price that a student or family is estimated to pay, and the terms and conditions of financial aid.
In addition, ED must (1) test the form with representatives of students, students' families, IHEs, secondary school and postsecondary counselors, and nonprofit consumer groups; and (2) use the results to develop the final form.
Each IHE that participates in federal student-aid programs must (1) use the standard form when offering financial aid to students, and (2) use the standard terminology and definitions developed by ED for all communications related to financial aid offers.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Understanding the True Cost of College Act of 2021
Latest action (Apr 29, 2021): Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Policy area: Education · Origin: Senate · Introduced: Apr 29, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.