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Student Aid: Large Endowment Universities to Pay Tuition Costs

This act aims to reduce college costs for students. Universities with large endowments will be required to cover a portion of tuition fees and bear more responsibility for student loan repayments. Additionally, universities will need to publish more data on costs, graduate earnings, and loan repayment rates, helping future students make informed decisions.
Key points
Universities with endowments over $1 billion will pay 25% to 75% of full-time student attendance costs, depending on endowment size.
Universities will share the risk of defaulted student loans, potentially encouraging them to better prepare students for the job market.
Universities must annually report and publicly disclose detailed data on study costs, graduation rates, graduate earnings, and loan repayment rates, increasing transparency.
Students and their families will gain access to more information, facilitating college and program choices, and potentially reducing their financial burden.
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Additional Information
Print number: 117_S_4772
Sponsor: Sen. Scott, Rick [R-FL]
Process start date: 2022-08-04
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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 Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_4772.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-08-04.

What are the main provisions?

Key points include:

  • Universities with endowments over $1 billion will pay 25% to 75% of full-time student attendance costs, depending on endowment size.
  • Universities will share the risk of defaulted student loans, potentially encouraging them to better prepare students for the job market.
  • Universities must annually report and publicly disclose detailed data on study costs, graduation rates, graduate earnings, and loan repayment rates, increasing transparency.
  • Students and their families will gain access to more information, facilitating college and program choices, and potentially reducing their financial burden.
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. Scott, Rick [R-FL].

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