Bill 118 hr 1198, also known as the Understanding the True Cost of College Act of 2023, aims to provide more transparency and clarity regarding the costs associated with attending college in the United States. The bill requires colleges and universities to provide students and their families with a detailed breakdown of all expenses, including tuition, fees, room and board, and other related costs.
Additionally, the bill mandates that institutions of higher education disclose information about financial aid options, scholarships, grants, and other forms of assistance that may help students offset the cost of attending college. This information must be easily accessible and understandable for students and their families.
Furthermore, the Understanding the True Cost of College Act of 2023 requires colleges and universities to report on the average debt load of their graduates, as well as the average starting salaries for students who have completed their programs. This data will give prospective students a better understanding of the potential return on investment for their education.
Overall, this bill aims to empower students and their families to make more informed decisions about where to attend college and how to finance their education. By increasing transparency and providing clear information about the true cost of college, the Understanding the True Cost of College Act of 2023 seeks to make higher education more accessible and affordable for all students.