Sec. 401. Financial aid shopping sheet
371 words·~2 min read·
/bill/115/hr/4416/ih/section-401A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Not later than the effective date of this Act, the Secretary of Education, in consultation with the Secretaries of Defense and Veterans Affairs, shall develop and finalize a financial shopping sheet that ensures each institution of higher education provides meaningful information about the financial cost and quality of such institution to students (including students who have authorized the Department of Education to send the student’s Institutional Student Information Record to such institution) to assist such students in determining how to use financial aid to attend such institution, and which— is standardized so that it can be used by all institutions of higher education; is consumer tested, and presented in a manner that is simple and easily understandable; and is personalized for each student who receives such sheet by including— the cost of attendance of the educational program in which the student is enrolled or seeks to be enrolled; the type of Federal educational benefits available to assist in covering such cost of attendance, including loans and grants under title IV of the Higher Education Act of 1965; the amount of financial aid, including Federal, State, institutional, or other aid that can be used to assist in covering such cost of attendance; information about student outcomes for students who graduate from such educational program, including, based upon the most recent data available— the graduation rate; the loan repayment rate; and the estimated loan debt upon graduation; and any other information that facilitates comparison of aid packages offered by different institutions of higher education.
In this subsection: The term cost of attendance has the meaning given the term in section 472 of the Higher Education Act of 1965 ( 20 U.S.C. 1087ll ). The term institution of higher education has the meaning given the term in section 102 of the Higher Education Act of 1965 ( 20 U.S.C. 1002 ). Section 487(a) of the Higher Education Act of 1965 ( 20 U.S.C. 1094(a) ) is amended by adding at the end the following: The institution will use a financial aid shopping sheet described in section 401(a) of the Simple FAFSA Act of 2017 as its sole financial award letter or include such sheet as a supplemental cover to such financial award letter. .
Connectionstraces to 3
Citation graph
cites case law
Cites 3Cited by 0 across 0 sources