Bill to Make College Cost More Transparent Gains Momentum

WASHINGTON - Today, U.S. Senator Bill Cassidy, M.D. (R-LA), chairman of the U.S. Senate Health, Education, Labor and Pensions (HELP) Committee, released a statement after the American Council on Education, Association of Public Land Grant Universities, National Association of Financial Aid Administrators, American Association of Community colleges, and the Association of Community College Trustees endorsed Cassidy's updated version of the Understanding the True Cost of College Act originally introduced by U.S. Senators Chuck Grassley (R-IA) and Tina Smith's (D-MN).

The HELP Committee will consider the legislation tomorrow along with several other bills to improve Americans access to quality education and health care.

"Right now, over 90% of colleges are understating the total cost to send your child there," said Dr. Cassidy. "You wouldn't buy a car or a house without knowing its cost. Why should college, one of the biggest financial investments families make, be any different?"

"The American Council on Education (ACE) proudly endorses the Understanding the True Cost of College Act of 2026. This bill strikes the right balance of requiring standardized terminology and content for financial aid offer letters while also allowing the needed flexibility for institutions of higher education to effectively communicate with current and prospective students," said ACE President Ted Mitchell. "We commend Chairman Cassidy and his staff for their work with stakeholders to ensure sound policy and an approach that meets its intended outcomes: to make it easier for students and families to make better informed decisions about their postsecondary educational journey. We encourage Congress to show support for students and families by passing this bill and sending it to the president's desk."

"We thank Chairman Cassidy for his leadership on the Understanding the True Cost of College Act," said Waded Cruzado, President of the Association of Public and Land-grant Universities. "Having a clear understanding of the true cost of a higher education degree is essential for students and their families. The bill, as introduced for markup, strikes the delicate and right balance between having key information on aid and cost without creating an overly prescriptive, one-size-fits-all approach that runs counter to the goals of clarity and student support. The legislation would ensure students have clear information for decision-making while allowing institutions to address specific needs to best support students within appropriate boundaries. APLU is a long-standing champion of college cost transparency and was proud to help launch the College Cost Transparency Initiative - which has united hundreds of colleges and universities under the same goals of the legislation, furthering clear and actionable information to best support students."

"NASFAA is proud to endorse the Understanding the True Cost of College Act," said Melanie Storey, NASFAA President and CEO. "This legislation advances clear, accurate, and transparent financial aid communications for students and families while respecting the diversity of institutions across the country. Its approach aligns closely with the principles of the College Cost Transparency Initiative, demonstrating that transparency and comparability can be strengthened in ways that remain student-centered and workable for colleges and universities."

Read the amendment here.

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