Improving Financial Aid Offers for Students Act

This bill sets rules for the financial aid offers that colleges receiving federal student aid funds send to students. Offers would have to list costs first, then grants and scholarships, then the estimated net price, then recommended federal loans, along with deadlines and steps for accepting or declining aid. The Secretary of Education would create standard terms and a model offer form after consumer testing, and colleges would have to use the standard terms and either the model form or their own form that meets the requirements. Colleges would submit a template of their offer form to the Secretary each year, which would be made public, and the Government Accountability Office would study the templates.

Full text and official record on Congress.gov

Sponsors

• Bill Cassidy Republican sponsor
• 1 cosponsors