Press Releases

WASHINGTON, DC – Today, Congresswoman Lori Trahan’s (MA-03) bipartisan legislation, the Student Financial Clarity Act, was approved by the House Committee on Education and Workforce. The bill would help students seeking higher education understand the true cost of their degree program.

“Too many students and families are forced to make life changing decisions about college without clear or consistent information about what their degree will actually cost,” said Congresswoman Trahan. “The Student Financial Clarity Act fixes that by giving every student a simple, reliable way to compare costs across schools and programs. I’m grateful to my colleagues on both sides of the aisle for advancing this bipartisan bill, and I look forward to getting it across the finish line so students can make informed decisions about their futures.”

Since 2008, Congress has required institutions of higher education to provide Net Price Calculator tools on their websites as a part of the Higher Education Opportunity Act. However, this tool has been implemented inconsistently, creating difficulty for students trying to access important information when making the most crucial decisions of their academic careers.

The Student Financial Clarity Act addresses this issue by:

• Creating a Universal Net Price Calculator, which would allow students to answer a set of financial and academic questions to receive personalized cost estimates for institutions and programs of study.

• Providing a central location for students to compare costs at one or more schools and programs of study, specific to their financial situation.

• Expanding the College Scorecard to require additional information on program-level statistics, allowing students to compare student costs, outcomes, and financial aid at institutions and specific programs of study.

Trahan introduced the bipartisan legislation earlier this week alongside Congressmen Brett Guthrie (R-KY-02) and Bob Onder (R-MO-03). It builds on the work she has done throughout her time in Congress to help current and prospective college students succeed. In 2023, Trahan introduced the Net Price Calculator Improvement Act, which would ensure that prospective students have the full picture of what it will cost to attend a higher education institution.

Following today’s passage of the Student Financial Clarity Act by the House Committee on Education and Workforce, the bill now moves to the House floor for consideration by the full House of Representatives.

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