College Cost Transparency: Universal Net Price Calculator and Earnings Data.
This Act mandates radical transparency in college finances, requiring institutions to publish detailed data on total program costs, student debt, and post-graduation earnings. Citizens will gain access to a new Universal Net Price Calculator, allowing them to compare the estimated total net cost of obtaining a credential across various programs and institutions. The goal is to empower families to make better-informed financial decisions regarding higher education.
Key points
A new Universal Net Price Calculator will estimate the total net cost of a degree (after grants/scholarships) for the entire program duration, not just one year.
Colleges must publish detailed data on average student debt and earnings after completing specific programs of study.
Cost, debt, and earnings information will be broken down by student characteristics, including family income, gender, race, and enrollment status, for easier comparison.
All institutions receiving federal funds must provide a net price calculator on their websites to estimate individual student costs.
Status:
Placed on Calendar
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