What is the official ID of this bill?
The official print number for this legislation is S 1452.
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.
Status:
Expired
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