To amend the Higher Education Act of 1965 to require the Secretary of Education to develop requirements for institutions of higher education on formatting financial aid offer forms, and for other purposes.
College Financial Aid Clarity Act of 2025
This bill requires the Department of Education (ED) to develop, and for institutions of higher education (IHEs) to use, a standardized, consumer-tested format for all financial aid offers.
Any financial aid offer must include specified details and disclosures, including (1) cost information (e.g., cost of attendance and net price); (2) disclosures related to loans (e.g., applicable interest rates); (3) information on student employment opportunities; and (4) next steps for accepting, adjusting, or declining financial aid.
Each IHE that participates in federal student aid programs must (1) include the required information for all financial aid offers (including paper, mobile, or electronic offers), (2) provide supplemental content and disclosures (e.g., requirements for renewing financial aid), and (3) use consistent terminology for all communications related to financial aid offers.
Introduced in House
Introduced in House
Referred to the House Committee on Education and Workforce.
Committee Consideration and Mark-up Session Held
Ordered to be Reported (Amended) by the Yeas and Nays: 23 - 10.
Reported (Amended) by the Committee on Education and Workforce. H. Rept. 119-460.
Reported (Amended) by the Committee on Education and Workforce. H. Rept. 119-460.
Placed on the Union Calendar, Calendar No. 394.
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