Legislative Tracker: Consumer Information & Transparency

Legislative Tracker Logo On this page, you'll find proposals to increase student and family awareness of institutional policies or provide students and borrowers with additional information. 

 

H.R.6002 — Understanding the True Cost of College Act of 2021

Sponsor: Rep. Kim [R-CA]
Cosponsors: 1 (1D; 0R)
Introduced: 11/17/2021
NASFAA Summary & Analysis: This bill would mandate standard terminology and a standard format for financial aid award offers. In a slight change from previous iterations of this bill, this version no longer requires specific elements on the first page of the aid offer.

 

H.R.5588 — Net Price Calculator Improvement Act

Sponsor: Rep. Guthrie [R-KY]
Cosponsors: 1
Introduced: 10/15/2021
NASFAA Summary & Analysis: This bill would allow the creation of a centralized website to allow students to compare estimates of their net price for individual institutions across multiple colleges at once. It would include the institution's net price, as well as all components of the institution's Cost of Attendance, as well as the estimated total need-based grant aid and merit-based grant aid, from Federal, State, and institutional sources, that may be available to the student. 

H.R.5779 — Financial Fitness Act

Sponsor: Rep. Leger Fernandez [D-NM]
Cosponsors: 1
Introduced: 10/28/2021
NASFAA Summary & Analysis: This bill would create a public personal finance education portal within the Department of Education website to help students and families grow their financial literacy skills. The portal would provide information on personal finance concepts such as budgeting, saving, and investing and information about managing student loan repayment including benefits and forgiveness options. 

H.R.5381 FLAT (Front-Loaded Financial Aid Transparency) Act

Sponsor: Rep. Kim [D-NJ]
Cosponsors: 1 (0D; 1R)
Introduced: 09/27/2021
NASFAA Summary & Analysis: This bill would commission a GAO study aimed at uncovering the prevalence, extent and impact of front-loaded institutional grant aid at accredited Colleges and Universities from 2007 to 2019 to understand the scale of front-loading financial aid and its consequences upon student loan borrowing, retention, transfer, and graduation rates.

H.R.5380 — Helping Students Plan for College Act of 2021

Sponsor: Rep. Kim [D-NJ]
Cosponsors: 1 (0D; 1R)
Introduced: 09/27/2021
NASFAA Summary & Analysis: This bill would require schools to make readily available their policies on adjusting institutional aid upon a student's receipt of non-Title IV aid and how the receipt of non-Title IV aid may impact eligibility for institutional financial aid. The Helping Students Plan for College Act, supported by NASFAA, requires schools that adjust institutional aid based on student receipt of non-Title IV aid, commonly called scholarship displacement, to disclose this fact publicly. The bill would also require schools to publish a statement that eligibility for institutional aid may be impacted by the receipt of non-federal aid and requires institutions to disclose their policies on making such adjustments and how receipt of such assistance may impact eligibility for, or the amount of, institutional aid. 

H.R.5339 — Protecting Education Privacy Act

Sponsor: Rep. Luetkemeyer [R-MO]
Cosponsors: 2 (0D; 2R)
Introduced 09/22/2021
NASFAA Summary & Analysis: This bill would further define the responsibilities, as it relates to FERPA, of an authorized representative by adding that they shall not release any personally identifiable information contained in education records collected while serving as an authorized representative to any individual, agency, or organization, other than the official under whom the authorized representative is under the direct control, as well as restricts any personally identifiable information from being shared for the development of commercial products or services.

H.R.4786/S.2550 — RISE Act of 2021

Sponsor: Rep. Bonamici [D-OR]
Cosponsors: 3 (1D; 2R)
Sponsor: Sen. Casey [D-PA]
Cosponsors: 5 (2D; 3R)
Introduced: 07/29/2021
NASFAA Summary & Analysis: This bill would allow college students to use existing documentation of a disability when going through the process of seeking accommodation on college campuses. At this time, students are required to go through the process of paying for new evaluations before they are eligible for access to special education services. 

H.R.4264 — REPORT Fines Act

Sponsor: Rep. Harshbarger [R-TN]
Cosponsors: 1 (1R)
Introduced: 06/30/2021
NASFAA Summary & Analysis: This bill would penalize universities that do not comply with reporting and disclosure requirements associated with receiving gifts and contracts from "foreign adversaries". If enacted, penalties under this bill would range from a written warning, fines equivalent to the amount of the gift, and disqualification from federal research funding.   

 

H.R.3362 — Opportunity To Address College Hunger Act

Sponsor: Rep. Bonamici [D-OR]
Cosponsors: 20
Introduced: 05/20/2021 
NASFAA Summary & Analysis:
This bill would require colleges and universities to inform students in the Federal Work Study program that they may qualify for the Supplemental Nutrition Assistance Program (SNAP) and provide support throughout the application process. 

H.R.2912 — Truth in Tuition Act of 2021

Sponsor: Rep. Cartwright [D-PA]
Cosponsors: 8
Introduced: 04/30/2021
NASFAA Summary & Analysis: This bill would require universities and colleges to provide each incoming class of students with a multi-year overview of the tuition and fee schedule or give each student a non-binding estimate of the individual cost of their education. While schools would still be free to determine their tuition rates, this bill aims to increase transparency around college costs for students and families. 

S.1452 — Understanding the True Cost of College Act of 2021

Sponsor: Sen. Grassley [R-IA]
Cosponsors: 2
Introduced: 04/29/2021
NASFAA Summary & Analysis: This bill would mandate standard terminology and a standard format for financial aid award offers. In a slight change from previous iterations of this bill, this version no longer requires specific elements on the first page of the aid offer. 

S.1448 — Net Price Calculator Improvement Act

Sponsor: Sen. Grassley [R-IA]
Cosponsors: 2
Introduced: 04/29/2021
NASFAA Summary & Analysis: This bill would allow the creation of a centralized website to allow students to compare estimates of their net price for individual institutions across multiple colleges at once. It would include the institution's net price, as well as all components of the institution's Cost of Attendance, as well as the estimated total need-based grant aid and merit-based grant aid, from Federal, State, and institutional sources, that may be available to the student. 

S.1445 — Know Before You Owe Federal Student Loan Act of 2021

Sponsor: Sen. Grassley [R-IA]
Cosponsors: 2
Introduced: 04/29/2021
NASFAA Summary & Analysis: This bill would require entrance counseling, renamed "Pre-Loan Counseling," to be administered before the disbursement of each new loan in each award year. This bill would also create periodic disclosures, which would be sent to every loan borrower on a quarterly basis, which contain updated information on how much they've borrowed, any interest capitalization that has occurred and their individual borrower information.

H.R.2874/S.1464 — Student Loan Disclosure Modernization Act

Sponsor: Rep. Cleaver [D-MO]
Cosponsors: 1
Introduced: 04/28/2021
Sponsor: Sen. Scott [R-SC]
Cosponsors: 1
Introduced: 04/29/2021
NASFAA Summary & Analysis: This bill will simplify the student loan disclosure form while also providing personalized information on the amount that students and their families are borrowing. It will also provide an estimate for how much the student may owe per month after graduation. 

H.R.2315 — Higher Education Transparency Act of 2021

Sponsor: Rep. Gosar [R-AZ]
Cosponsors: 4
Introduced: 04/01/2021
NASFAA Summary & Analysis: This bill would require American universities to be transparent about any agreement that they have with foreign entities such as Confucius Institutes.

H.R.2030/S.839 — College Transparency Act

Sponsor: Rep. Krishnamoorthi [D-IL]
Cosponsors: 5
Introduced: 03/18/2021
Sponsor: Sen. Cassidy [R-LA]
Cosponsors: 3
Introduced: 03/18/2021
NASFAA Summary & Analysis: This bill would create a new "postsecondary student data system," thereby repealing the ban on the federal government from collecting student-level data. The bill aims to modernize the federal data reporting system, thereby reducing data reporting burdens on institutions. The data system would contain data elements related to student enrollment, persistence, retention, transfer, and completion measures. The bill contains several privacy provisions and includes prohibitions on the collection of certain information, including religion, course grades, and citizenship status, among others. Ultimately, the new data collection will be used to create a user-friendly portal for the public to compare institutions. The bill's provisions apply to all institutions of higher education that receive Title IV federal student aid.

 

Legislative Tracker Overview   |   Archive: Consumer Information & Transparency

Publication Date: 1/18/2022


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