Bill
Bill > HR4343
summary
Introduced
09/17/2019
09/17/2019
In Committee
09/17/2019
09/17/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
To amend the Higher Education Act of 1965 to direct the Secretary of Education to publish requirements for financial aid offers to be provided by institutions of higher education to enrolled and prospective students, and for other purposes. This bill requires the Department of Education (ED) to publish certain requirements for financial aid offers. ED must conduct consumer testing to serve as the basis for determining such requirements for financial aid offers, and a financial aid offer must contain information such as cost of attendance and sources of available financial aid. An offer must also contain a standardized quick reference box to enable comparison of information on college costs and financial aid.
AI Summary
This bill, the Financial Aid Communication and Transparency Act of 2019 or the FACT Act of 2019, amends the Higher Education Act of 1965 to require the Department of Education (ED) to publish requirements for financial aid offers that institutions of higher education must provide to enrolled and prospective students. These requirements include standardized terms and definitions, formatting guidelines, and specific information to be included, such as cost of attendance, available financial aid (grants, scholarships, loans, and work-study), net price, and next steps. The bill also mandates consumer testing by ED to develop these requirements and report on the findings.
Committee Categories
Education
Sponsors (8)
Lori Trahan (D)*,
Cindy Axne (D),
Ed Case (D),
Debbie Dingell (D),
Brian Fitzpatrick (R),
Lloyd Smucker (R),
Bennie Thompson (D),
David Trone (D),
Last Action
Referred to the House Committee on Education and Labor. (on 09/17/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/house-bill/4343/all-info |
| BillText | https://www.congress.gov/116/bills/hr4343/BILLS-116hr4343ih.pdf |
| Bill | https://www.congress.gov/116/bills/hr4343/BILLS-116hr4343ih.pdf.pdf |
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