Bill > HR2321

This bill, the Understanding the True Cost of College Act of 2019, requires the Secretary of Education to develop a standard financial aid offer form and terminology to help students and families better understand the costs and financing options for higher education. The key provisions include: - Requiring institutions of higher education that receive federal financial aid to use the standard financial aid offer form and terminology developed by the Secretary of Education. - Specifying the required contents of the standard financial aid offer form, including details on the cost of attendance, financial aid available (grants, scholarships, work-study, and loans), net price, and next steps in the financial aid process. - Allowing the Secretary of Education to modify the form and terminology based on consumer testing and feedback from students, families, institutions, and other stakeholders. - Exempting the implementation of the standard financial aid offer form from certain administrative procedures, to expedite its rollout. The goal of this bill is to improve transparency and provide consistent, consumer-friendly information to help students and families make more informed decisions about the true costs and financing of higher education.