Tuberville, Grassley Reintroduce Bill to Clarify College Costs for Students and Families
Bipartisan bill would increase transparency about true costs of college
U.S. Senators Tommy Tuberville (R-AL) and Chuck Grassley (R-IA) have reintroduced the Understanding the True Cost of College Act, a bipartisan effort designed to improve transparency in college financial aid and help students make better-informed decisions about higher education and student loans.
The legislation seeks to establish a standardized, universal financial aid offer form that would clearly outline the true costs associated with attending college. The goal is to help students and their families avoid financial pitfalls, such as taking on excessive debt or misjudging the actual price of a college education.
From the earliest stages of the college search to post-enrollment counseling, the bill would provide students with clearer financial information. The standardized form would ensure consistency in how schools present aid packages, enabling easier comparisons between institutions.
Senator Tuberville, who serves on the Senate Health, Education, Labor, and Pensions (HELP) Committee and chairs the Subcommittee on Education and the American Family, stressed the need for greater transparency.
“More and more of our young people are finding themselves buried in student loan debt,” Tuberville said. “Too many of our young people are falling behind on their life goals because they are carrying the burden of college loans for years after completing their degrees. This bill will help young people, who are considering pursuing higher education, understand if college is the right fit for them and exactly what financial assistance they may need.”
Senator Grassley also emphasized the importance of the bill: “When it comes to college costs, we ought to focus on fixing the process on the front-end before students get in over their heads. The federal government should be offering commonsense resources to better prepare borrowers. Our bipartisan bills will provide additional counseling, resources and clarity to the student loan process so that students can know before they owe. I’m working to help America’s next generation pursue higher education opportunities without breaking the bank,” Grassley said.
The reintroduction follows troubling findings from the U.S. Government Accountability Office (GAO), which reported in 2022 that more than 90% of college financial aid letters fail to clearly state the net price of attendance. Many letters omit key information such as tuition, fees, or living expenses, while others use inconsistent language and formatting that confuse applicants and families.
The proposed legislation would address these issues by requiring all institutions of higher learning to use the same terms, format, and definitions when communicating financial aid. Proponents say this would prevent misleading language and make financial comparisons between schools straightforward and transparent.
A full summary of the Understanding the True Cost of College Act is available HERE. The full text of the bill is HERE.
