Understanding the True Cost of College Act of 2025
Introduced May 1, 2025 by Rep. Young Kim
It's waiting on a committee vote to reach the full chamber. Most bills never leave this stage.
This bill requires standardized financial aid terminology and offer forms.
Specifically, the Department of Education (ED) must develop standard terminology and a format for financial aid offer forms based on recommendations from representatives of certain groups, including students, veterans, and institutions of higher education (IHEs).
The consumer-friendly form must include specified details and disclosures, including the estimated cost of attendance, the net price that a student or family is estimated to pay, and the terms and conditions of financial aid.
In addition, ED must (1) test the form with representatives of students, students' families, IHEs, secondary school and postsecondary counselors, and nonprofit consumer groups; and (2) use the results to develop the final form.
Read the full summary on Congress.govSummary by the Congressional Research Service.
No floor votes yet — it hasn't reached the floor of either chamber.