Understanding the True Cost of College Act of 2021

Summary

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.

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Timeline

1. 17 November 2021

   Introduced

   Referred to the House Committee on Education and Labor.

   Source: IntroReferral

2. 17 November 2021

   Introduced

   Introduced in House

   Source: IntroReferral

3. 17 November 2021

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 17 November 2021 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 17 November 2021

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 17 November 2021

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 17 November 2021

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Kim, Young [R-CA-40] · R · Sponsor
• Rep. Krishnamoorthi, Raja [D-IL-8] · D · Sponsor
• Rep. Hayes, Jahana [D-CT-5] · D · Cosponsor
• Rep. Carson, André [D-IN-7] · D · Cosponsor
• Rep. Larsen, Rick [D-WA-2] · D · Cosponsor
• Rep. Golden, Jared F. [D-ME-2] · D · Cosponsor
• Rep. Crow, Jason [D-CO-6] · D · Cosponsor
• · hsed00 · Standing

Related records

• related to → Understanding the True Cost of College Act of 2023
• related to → Understanding the True Cost of College Act of 2021