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Standardized Financial Aid Offers for College Students

This act mandates a standardized financial aid offer form to help students understand college costs and available funding. This will enable citizens to easily compare offers from different institutions and make informed decisions about financing their education, avoiding hidden costs and ambiguities.
Key points
All colleges must use a single, clear financial aid offer form, making cost comparisons easier.
The form will clearly distinguish between college costs, non-repayable grants and scholarships, and loans that must be repaid.
Students will receive information on the estimated net cost of attendance, showing what they actually need to pay after non-repayable aid.
The form will include clear details on student loans, including repayment obligations, interest rates, and links to repayment calculators.
The act ensures students and families have access to complete and understandable information, helping them avoid debt and make better financial choices.
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Expired
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Additional Information
Print number: 117_HR_6002
Sponsor: Rep. Kim, Young [R-CA-39]
Process start date: 2021-11-17
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Understanding the True Cost of College Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_6002.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-11-17.

What are the main provisions?

Key points include:

  • All colleges must use a single, clear financial aid offer form, making cost comparisons easier.
  • The form will clearly distinguish between college costs, non-repayable grants and scholarships, and loans that must be repaid.
  • Students will receive information on the estimated net cost of attendance, showing what they actually need to pay after non-repayable aid.
  • The form will include clear details on student loans, including repayment obligations, interest rates, and links to repayment calculators.
  • The act ensures students and families have access to complete and understandable information, helping them avoid debt and make better financial choices.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Kim, Young [R-CA-39].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Education and Labor.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Education