arrow_back Back to App

Standardized Financial Aid Offers for College Students

This act introduces a standardized financial aid offer form to help students and families understand the true cost of college. It aims to provide clear information on expenses, grants, scholarships, and loans, enabling more informed financial decisions regarding higher education.
Key points
Standardized Financial Aid Form: All colleges must use a single, easy-to-understand form to present college costs and available support.
Clear Cost and Aid Distinction: The form will clearly separate costs (tuition, housing, food, books) from non-repayable grants and scholarships.
Loan Information: Students will receive detailed information about loans, including repayment obligations, interest rates, and links to repayment calculators.
Net Price Indication: The form will show the estimated amount a student or family will need to pay after non-repayable aid is deducted.
Additional Data: The form will include information on institutional loan default rates and median graduate debt.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_S_1452
Sponsor: Sen. Grassley, Chuck [R-IA]
Process start date: 2021-04-29
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

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_S_1452.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-04-29.

What are the main provisions?

Key points include:

  • Standardized Financial Aid Form: All colleges must use a single, easy-to-understand form to present college costs and available support.
  • Clear Cost and Aid Distinction: The form will clearly separate costs (tuition, housing, food, books) from non-repayable grants and scholarships.
  • Loan Information: Students will receive detailed information about loans, including repayment obligations, interest rates, and links to repayment calculators.
  • Net Price Indication: The form will show the estimated amount a student or family will need to pay after non-repayable aid is deducted.
  • Additional Data: The form will include information on institutional loan default rates and median graduate debt.
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 Sen. Grassley, Chuck [R-IA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Education