Press Releases
Trahan Reintroduces Bipartisan Bill to Improve Transparency on the Cost of College
Washington,
February 27, 2023
WASHINGTON, DC – Today, Congresswoman Lori Trahan (MA-03) and Congressman Brett Guthrie (KY-02) reintroduced the Net Price Calculator Improvement Act, a bipartisan bill that would improve transparency for students and their families on the cost of attending college. “As a first-generation college student and a mom to two young girls, I know the difficulties that families face in finding information beyond college brochure sticker prices. With the costs of higher education skyrocketing, it’s more essential than ever that prospective students and their families have a complete understanding of how much they need to earn, save, or borrow to afford a college education,” said Congresswoman Trahan. “I’m proud to work with Congressman Guthrie on this bipartisan legislation that will finally take the burden off students and families and ensure that prospective students have the full picture of what it will cost to attend a higher education institution. For many, a college education is one of the biggest financial investments they will ever make, which is why this transparency and accountability are so important.” “With the cost of attending college rising and being a top concern for most students and their families, it should be easier for prospective students to get a complete picture of the price to attend the colleges they are considering. I am proud to reintroduce the Net Price Calculator Improvement Act with Congresswoman Trahan to require institutions of higher education to be more transparent on the true cost of college to help students more easily compare the costs between institutions. I hope this bill is signed into law this Congress to give students a better understanding of the financial obligation of attending different colleges so that they can make the best decision moving forward with their higher education,” said Congressman Guthrie. Background: In 2008, Congress through the Higher Education Opportunity Act first required institutions of higher education to provide net price calculator tools on their respective websites. Net price calculators provide students with individualized financial aid information and higher education costs to better understand the net price of attending a specific college. This tool has been implemented inconsistently and can be difficult to find on institutions’ websites. To address this, the Net Price Calculator Improvement Act would:
U.S. Senators Tina Smith (D-MN) and Chuck Grassley (R-IA) introduced the companion legislation to the Net Price Calculator Improvement Act in the Senate. ### |