Sec. 3. Universal Net Price Calculator
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Section 132(h) of the Higher Education Act of 1965 ( 20 U.S.C. 1015a(h) ), as amended by section 2, is further amended by adding at the end the following: The Secretary may develop a universal net price calculator that— enables users to answer one set of questions and receive net prices for any institution that is required to have a net price calculator under this subsection; provides the information required under subparagraphs
(B)and
(C)of paragraph
(4)for each institution for which a net price is being sought; is developed in consultation with the heads of relevant Federal agencies; and before being finalized and publicly released, is tested in accordance with subparagraph (B). If the Secretary develops a universal net price calculator under subparagraph (A), the Secretary, in consultation with the heads of relevant Federal agencies, shall establish a process to submit the universal net price calculator developed under this paragraph for consumer testing among representatives of students (including low-income students, first generation college students, adult students, and prospective students), students' families (including low-income families, families with first generation college students, and families with prospective students), institutions of higher education, secondary school and postsecondary counselors, and nonprofit consumer groups. The Secretary shall ensure that the consumer testing lasts no longer than 6 months after the process for consumer testing is developed under clause (i). The results of consumer testing under clause
(i)shall be used in the final development of the universal net price calculator. Not later than 3 months after the date the consumer testing under clause
(i)concludes, the Secretary shall submit to Congress the final universal net price calculator and a report detailing the results of such testing, including whether the Secretary added any additional items to the calculator as a result of such testing. The Secretary may modify the definitions, terms, formatting, and design of the universal net price calculator based on the results of consumer testing required under this paragraph and before finalizing the calculator. Not later than 1 year after the date of enactment of the Net Price Calculator Improvement Act , the Secretary shall submit a report to Congress on steps taken to raise awareness of net price calculators among prospective students and families, particularly among students in middle school and high school and students from low-income families. .
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Sec. 3
Universal Net Price Calculator
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