College Cost Transparency: Improving Net Price Calculators for Students.
This law establishes mandatory, standardized requirements for college Net Price Calculators, ensuring students and families receive clearer and more accurate estimates of the true cost of attendance after grants and scholarships. The goal is to increase financial transparency during the college selection process and protect user privacy.
Key points
Colleges must prominently display and clearly label the cost calculator link on their websites, making it easy for prospective students to find.
Calculators must provide a detailed breakdown of costs (tuition, housing, books) and estimated grant aid to show the student's specific net price clearly.
Strict privacy rules are implemented: personal information entered into the calculator cannot be sold or shared with third parties.
The Secretary of Education is authorized to develop a single, universal calculator to allow users to compare costs across multiple institutions easily.
Status:
Expired
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