Tuition Transparency: Colleges Must Disclose Future Costs Upfront
New rules require higher education institutions to provide students with clear, multi-year tuition and fee schedules. This aims to help citizens better plan their finances and make informed education decisions, avoiding unexpected cost increases. Colleges will need to show estimated costs, including financial aid.
Key points
Colleges must provide admitted students with either multi-year tuition schedules or single-year schedules with multi-year net cost estimates after financial aid.
Cost information will include anticipated increases or decreases and total costs for the normal duration of the student's program.
For single-year schedules with estimates, institutions must disclose the average deviation between past estimates and actual costs, enhancing forecast reliability.
Requirements can be waived in extraordinary circumstances, such as severe economic distress or dramatic reductions in state or federal aid.
Status:
Introduced
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