Financial aid award letters have long been a topic of conversation within the college admission counseling profession, and as discussions about reauthorization of the Higher Education Act (HEA) intensify, Congress seems poised to join the conversation.
Last month, Sens. Chuck Grassley (R-IA), Tina Smith (D-MN), and Joni Ernst (R-IA) introduced the Understanding the True Cost of College Act of 2019 — stand-alone legislation intended to be included as part of the larger HEA reauthorization.
If passed, higher education institutions would be required to use a uniform financial aid offer form containing standardized definitions. According to the bill’s sponsors, the move is intended to ensure colleges provide information to students and families in “a consumer-friendly manner that is simple and understandable.”