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Clear Financial Aid Offers for Students

This act aims to help students and their families understand college costs and available financial aid. It introduces standardized rules for how colleges present financial aid offers, making it easier to compare options and make informed decisions about education.
Key points
Colleges must present financial aid offers clearly and understandably, using standardized terms.
Offers will clearly distinguish between grants and scholarships (which do not need to be repaid) and loans (which must be repaid with interest).
Students will see estimated direct costs (tuition, fees) and indirect costs (housing, books, transportation) and available financing options.
Information on post-graduation earnings and loan repayment will be available to help assess the value of educational investment.
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Additional Information
Print number: 117_HR_9429
Sponsor: Rep. McClain, Lisa C. [R-MI-10]
Process start date: 2022-12-05
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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

College Cost Transparency and Student Protection Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_9429.

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 2022-12-05.

What are the main provisions?

Key points include:

  • Colleges must present financial aid offers clearly and understandably, using standardized terms.
  • Offers will clearly distinguish between grants and scholarships (which do not need to be repaid) and loans (which must be repaid with interest).
  • Students will see estimated direct costs (tuition, fees) and indirect costs (housing, books, transportation) and available financing options.
  • Information on post-graduation earnings and loan repayment will be available to help assess the value of educational investment.
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. McClain, Lisa C. [R-MI-10].

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