0
0

Understanding the True Cost of College Act of 2021

12/30/2022, 8:18 AM

Summary of Bill HR 6002

Bill 117 hr 6002, also known as the Understanding the True Cost of College Act of 2021, 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 the true cost of attendance, including tuition, fees, room and board, and other expenses.

Additionally, the bill mandates that institutions of higher education disclose information about financial aid options, scholarships, and grants available to students. This information must be easily accessible and understandable to help students make informed decisions about their college education.

Furthermore, the Understanding the True Cost of College Act of 2021 requires colleges and universities to report data on student loan debt, repayment rates, and default rates. This information will help students understand the potential financial implications of taking out student loans and make more informed decisions about their borrowing. Overall, this bill aims to empower students and their families with the information they need to make sound financial decisions when it comes to pursuing higher education. By increasing transparency and accountability in college costs, the Understanding the True Cost of College Act of 2021 seeks to make college more affordable and accessible for all students.

Congressional Summary of HR 6002

Understanding the True Cost of College Act of 2021

This bill requires standardized financial aid terminology and offer forms.

Specifically, the Department of Education (ED) must develop standard terminology and a format for financial aid offer forms based on recommendations from representatives of certain groups, including students, veterans, and institutions of higher education (IHEs).

The consumer-friendly form must include specified details and disclosures, including the estimated cost of attendance, the net price that a student or family is estimated to pay, and the terms and conditions of financial aid.

In addition, ED must (1) test the form with representatives of students, students' families, IHEs, secondary school and postsecondary counselors, and nonprofit consumer groups; and (2) use the results to develop the final form.

Each IHE that participates in federal student-aid programs must (1) use the standard form when offering financial aid to students, and (2) use the standard terminology and definitions developed by ED for all communications related to financial aid offers.

Read the Full Bill

Formatted TextPDFFormatted XML

Current Status of Bill HR 6002

Bill HR 6002 is currently in the status of Bill Introduced since November 17, 2021. Bill HR 6002 was introduced during Congress 117 and was introduced to the House on November 17, 2021.  Bill HR 6002's most recent activity was Referred to the House Committee on Education and Labor. as of November 17, 2021

Bipartisan Support of Bill HR 6002

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
12
Democrat Cosponsors
12
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 6002

Primary Policy Focus

Education

Alternate Title(s) of Bill HR 6002

Understanding the True Cost of College Act of 2021
Understanding the True Cost of College Act of 2021
To require a standard financial aid offer form, and for other purposes.

Comments

Sponsors and Cosponsors of HR 6002

Young Kim
Young Kim
CaliforniaRepublican
Rick Larsen
Rick Larsen
WashingtonDemocrat
Raja Krishnamoorthi
Raja Krishnamoorthi
IllinoisDemocrat
Jahana Hayes
Jahana Hayes
ConnecticutDemocrat
Jared F. Golden
Jared F. Golden
MaineDemocrat
Jason Crow
Jason Crow
ColoradoDemocrat

Latest Bills

To designate the facility of the United States Postal Service located at 825 Highway 198 in Beaumont, Mississippi, as the "Jeremy Malone Post Office".
Bill HR 6995April 15, 2026
Providing for consideration of the bill (H.R. 1689) to require the Secretary of Homeland Security to designate Haiti for temporary protected status.
Bill HRES 965April 15, 2026
To designate the facility of the United States Postal Service located at 417 West 7th Street in Columbia, Tennessee, as the "Pharmacist's Mate First Class John Harlan Willis Post Office Building".
Bill HR 6808April 15, 2026
To designate the facility of the United States Postal Service located at 12109 New Kent Highway in New Kent, Virginia, as the "Patricia Paige Post Office".
Bill HR 6317April 15, 2026
To designate the facility of the United States Postal Service located at 3570 Olney Laytonsville Road in Olney, Maryland, as the "Edward L. Ramsey Olney Post Office Building".
Bill HR 6310April 15, 2026
To designate the facility of the United States Postal Service located at 13355 North Lon Adams Road in Marana, Arizona, as the "Mayor Ed Honea Memorial Post Office".
Bill HR 6247April 15, 2026
To designate the facility of the United States Postal Service located at 14855 South Van Dyke Road in Plainfield, Illinois, as the "Staff Sergeant Jose Dueñez Jr. Post Office Building".
Bill HR 6020April 15, 2026
To designate the facility of the United States Postal Service located at 306 South Main Street in Waupaca, Wisconsin, as the "Master Sergeant Melvin O. Handrich Post Office Building".
Bill HR 5831April 15, 2026
To designate the facility of the United States Postal Service at 1300 East Northwest Highway in Palatine, Illinois, as the "Bernie Bluestein Post Office Building".
Bill HR 5773April 15, 2026
To designate the facility of the United States Postal Service located at 890 East 152nd Street in Cleveland, Ohio, as the "Technical Sergeant Alma Gladys Minter Post Office Building".
Bill HR 4635April 15, 2026