Net Price Calculator Improvement Act

The Bill 118 hr 1214, also known as the Net Price Calculator Improvement Act, aims to improve the accuracy and accessibility of net price calculators on college and university websites. Net price calculators are tools that help prospective students estimate the actual cost of attending a particular institution after factoring in financial aid and scholarships.

The bill requires institutions of higher education that receive federal funding to provide a net price calculator on their website that meets certain standards for accuracy and transparency. These standards include providing clear information on the cost of attendance, the types and amounts of financial aid available, and the net price after aid is applied.

Additionally, the bill requires institutions to regularly update their net price calculators to reflect changes in tuition, fees, and financial aid policies. This will ensure that prospective students have access to the most up-to-date and accurate information when making decisions about where to attend college. Overall, the Net Price Calculator Improvement Act aims to empower students and families to make more informed decisions about college affordability and to increase transparency in the financial aid process. By improving the accuracy and accessibility of net price calculators, the bill seeks to help students better understand the true cost of attending college and make more informed choices about their higher education options.