Bill > S1972

This bill, the Lowering Education Costs and Debt Act, aims to increase college transparency and provide students with more information about the true costs of college. Key provisions include: - Establishing a secure, privacy-protected postsecondary student data system to help evaluate student outcomes and higher education costs, and provide better information for students and families. - Requiring institutions to use a standardized financial aid offer form that clearly outlines costs, grants/scholarships, loans, and other details to help students understand the true cost of attendance. - Enhancing loan counseling requirements to provide students with more information about repayment options, earnings data, and other key details. - Simplifying income-driven repayment plans and providing faster loan forgiveness for low-balance undergraduate borrowers. - Limiting graduate and professional student access to federal PLUS loans starting in 2024. The goal of the bill is to empower students and families with better data and information to make more informed decisions about college costs and financing.

Health and Social Services

https://www.congress.gov/bill/118th-congress/senate-bill/1972/all-info