# Truth in Tuition Act of 2021

This bill requires colleges and universities to give students upfront information about what their education will actually cost over multiple years. Right now, many schools only tell students about tuition for the current year, making it hard to plan financially for a four-year degree or longer graduate program. This bill aims to change that by forcing schools to be transparent about costs students can expect down the road.

Schools would have two options for how to provide this information. They can either give students a multi-year tuition and fee schedule showing exactly what they'll pay each year of their program, or they can provide just the current year's costs along with a non-binding estimate of what the total cost will be after financial aid is applied over the full program. If a school chooses the second option, it also has to show how accurate its past estimates have been by revealing the average difference between what it predicted students would pay and what they actually paid. This helps students understand whether the school's estimates tend to be reliable or if costs typically end up being higher than projected.

The bill gives schools flexibility in how much they can raise tuition year to year—there's no cap on increases. However, schools must break down costs on a year-by-year basis for the normal length of a student's program, whether that's four years for an undergraduate degree or longer for graduate school. The law would take effect 120 days after being passed. Schools facing serious financial hardship or dramatic cuts to government funding could ask the Secretary of Education for a waiver from these requirements if following them isn't practical.

Truth in Tuition Act of 2021

Cartwright, Matt

Truth in Tuition Act of 2021 This bill requires institutions of higher education (IHEs) that participate in federal student-aid programs to provide admitted students with information related to tuition and fees. Specifically, the bill requires an IHE to provide to a student (1) a multi-year tuition and fee schedule; or (2) a single-year tuition and fee schedule and a nonbinding, multi-year estimate of net costs after financial aid is awarded. The Department of Education may waive this requirement under certain circumstances.