Net Price Calculator Improvement Act

Senate Bill 531 - Net Price Calculator Improvement Act: Overview, Status, and Impact

Hozzl · 2023-12-15T16:06:09Z

Explore the details of Senate Bill 531 Net Price Calculator Improvement Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Education. Stay informed on legislative developments.

12/15/2023, 4:06 PM

Congressional Summary of S 531

Net Price Calculator Improvement Act

This bill establishes requirements concerning the information that must be provided to prospective students about the cost of attendance at an institution of higher education (IHE). Specifically, the bill establishes the minimum requirements for the net price calculator that an IHE must include on its website. An IHE's net price is the average yearly price actually charged to first-time, full-time undergraduate students receiving student aid at the IHE after deducting such aid.

The bill also authorizes the Department of Education to develop a universal net price calculator that enables users to answer one set of questions and receive net prices for several IHEs and compare those prices.

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Current Status of Bill S 531

Bill S 531 is currently in the status of Bill Introduced since February 27, 2023. Bill S 531 was introduced during Congress 118 and was introduced to the Senate on February 27, 2023. Bill S 531's most recent activity was Read twice and referred to the Committee on Health, Education, Labor, and Pensions. as of February 27, 2023

Bipartisan Support of Bill S 531

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 531

Primary Policy Focus

Education

Alternate Title(s) of Bill S 531

Net Price Calculator Improvement Act

A bill to amend the Higher Education Act of 1965 to make technical improvements to the Net Price Calculator system so that prospective students may have a more accurate understanding of the true cost of college.