,i  #aaf? ,,congress  #a/ ,session  ,h4 
,r4 #dcdc  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,septemb] #ag1        
#bjai,mrs4 ,trahan 7= h]self & ,mr4     
,smuck]7 introduc$ ! foll[+ bill2 :i* 0 
ref]r$ to ! ,committee on ,education &  
,labor  ,a ,,bill  ,to am5d ! ,high]    
,education ,act ( #aife to direct !     
,secret>y ( ,education to publi%        
requirem5ts = f9ancial aid (f]s to be   
provid$ by in/itutions ( high] education
 to enroll$ & prospective /ud5ts1 & =   
o!r purposes4  #a4 ,%ort title ,?is ,act
 may be cit$ z ! ,f9ancial ,aid         
,communication & ,transp>5cy ,act (     
#bjai or ! ,,fact ,act ( #bjai4  #b4    
,f9ancial aid (f]s ,section #dhe ( !    
,high] ,education ,act ( #aife 7#bj     
,u4,s4,c4 #ajib7 is am5d$ by add+ at !  
end ! foll[+3  7n7 ,f9ancial aid (f]s   
7#a7 ,requirem5ts = (f]s  7,a7          
,secret>ial requirem5ts ,n lat] ?an #ah 
mon?s aft] ! date ( enactm5t ( !        
,f9ancial ,aid ,communication &         
,transp>5cy ,act ( #bjai ! ,secret>y    

%all1 bas$ on ! consum] te/+ conduct$ "u
 subp>agraph 7,e71 publi% requirem5ts = 
f9ancial aid (f]s t %all--  7i7 include 
a requirem5t t f9ancial aid (f]s %all   
s]ve z ! prim>y s\rce = ,f$]al1 ,/ate1 &
 in/itutional f9ancial aid in=mation    
provid$ by an in/itution ( high]        
education p>ticipat+ 9 any program "u   
?is title to ea* prospective /ud5t      
accept$ = admission & ea* enroll$ /ud5t 
at su* in/itution2  7ii7 include a      
requirem5t t su* (f]s include a /&>diz$ 
quick ref]5ce box describ$ 9 subp>agraph
 7,d72  7iii7 e/abli% /&>diz$ t]ms &    
def9itions1 includ+ = ! elem5ts li/$ 9  
subp>agraph 7,c71 t %all be includ$ 9   
ea* su* (f]2  7iv7 e/abli% =matt+       
requirem5ts ) respect to ! organization 
( ! elem5ts li/$ 9 subp>agraph 7,c71 :i*
 %all include1 at a m9imum1 a requirem5t
 t prohibits su* (f]s f display+ loans 9
 a mann] t indicates or implies t su*   
loans r$uce ! am\nt ow$ to ! in/itution 
or r$uce ! net price2 &  7v7 specify !  
simple1 pla9-language1 & consum]-fri5dly

 in=mation to be includ$ 9 ea* su* (f] )
 respect to ! f9ancial aid be+ (f]$ to a
 /ud5t1 :i* %all include--  7,i7 an     
explanation ( diff]5ces among ea* su*   
type ( f9ancial aid1 includ+ cle>       
explanations t--  7aa7 grants &         
s*ol>%ips d n h to be repaid2  7bb7     
loans 7includ+ loans made "u "p ,d &    
private education loans 7z def9$ 9      
section #adj ( ! ,tru? 9 ,l5d+ ,act77   
mu/ be repaid ) int]e/2 &  7cc7 paym5ts 
"u ,f$]al "w-/udy programs "u "p ,c are 
cont+5t on f9d+ qualifi$ employm5t & are
 typically disburs$ increm5tally 9      
pay*ecks2  7,,ii7 in=mation cl>ify+ t   
/ud5ts may-- 7aa7 decl9e to accept a    
loan made "u "p ,d2 or  7bb7 accept an  
am\nt ( su* loan t is less ?an ! am\nt (
 su* loan includ$ 9 ! f9ancial aid (f]2 
&  7,,iii7 9 a case 9 :i* ! in/itution  
(f]s a /ud5t su* a loan 9 an am\nt t is 
less ?an ! maximum am\nt = :i* ! /ud5t  
is eligible1 an explanation t ! /ud5t is
 eligible = additional loans "u "p ,d4  
7,b7 ,in/itutional requirem5ts ,beg9n+ )

 ! aw>d ye> t beg9s n less ?an #a ye>   
aft] ! ,secret>y publi%es requirem5ts "u
 subp>agraph 7,a71 ea* in/itution (     
high] education describ$ 9 subp>agraph  
7,a77i7 %all provide a f9ancial aid (f] 
to ea* /ud5t describ$ 9 su* subp>agraph 
prior to ea* academic ye> t--  7i7 %all 
comply ) ! requirem5ts publi%$ by !     
,secret>y "u subp>agraph 7,a72 &  7ii7  
may be supplem5t$ by ! in/itution )     
additional1 non-contradictory in=mation 
relat$ to f9ancial aid z long z su*     
supplem5t>y in=mation uses ! /&>diz$    
t]ms & def9itions describ$ 9 subp>agraph
 7,a77iii74  7,c7 ,elem5ts ,a f9ancial  
aid (f] provid$ by an in/itution ( high]
 education %all include ! foll[+ elem5ts
 ) respect to ! academic ye> = :i* ! (f]
 is be+ provid$3  7i7 ,! co/ (          
att5dance1 :i* %all include sep>ately   
calculat$ subtotals (-- 7,i7 an itemiz$ 
li/ ( e/imat$ direct co/s ow$ to !      
in/itution2 &  7,,ii7 an itemiz$ li/ (  
anticipat$ /ud5t exp5ses n cov]$ "u     
subclause 7,i74  7ii7 ,f$]al1 ,/ate1 &  

in/itutional f9ancial aid available to !
 /ud5t1 :i* %all include sep>ately      
calculat$ subtotals (--  7,i7 grants &  
s*ol>%ips2  7,,ii7 loans made "u "p ,d  
7exclud+ ,f$]al ,direct ,p>5t ,,plus    
,loans72 &  7,,iii7 ,f$]al "w-/udy      
programs "u "p ,c & o!r on-campus       
employm5t4  7iii7 ,o!r options t may be 
available to /ud5ts to cov] ! co/ (     
att5dance 7includ+ ,f$]al ,direct ,p>5t 
,,plus ,loans1 tuition paym5t plans1    
sav+s1 & e>n+s f o!r employm5t74  7iv7  
,! net price1 :i* %all be det]m9$ by    
calculat+ ! diff]5ce betwe5-- 7,i7 ! co/
 ( att5dance describ$ 9 clause 7i72 &   
7,,ii7 ! grants & s*ol>%ips describ$ 9  
clause 7ii77,i74  7v7 ,next /ep         
in/ructions1 includ+--  7,i7 ! process &
 deadl9es = accept+ ! f9ancial aid2 &   
7,,ii7 in=mation ab\t :]e to f9d        
additional in=mation on ! f9ancial aid  
(f]$4  7vi7 ,any o!r in=mation det]m9$  
necess>y by ! ,secret>y bas$ on !       
consum] te/+ conduct$ "u subp>agraph    
7,e71 :i* may include ! foll[+3  7,i7   

,an e/imate ( ! net direct co/1 :i* %all
 be det]m9$ by calculat+ ! diff]5ce     
betwe5--  7aa7 ! direct co/s ow$ to !   
in/itution describ$ 9 clause 7i77,i72 & 
7bb7 ! grants & s*ol>%ips describ$ 9    
clause 7ii77,i74  7,,ii7 ,in=mation on  
av]age /ud5t debt1 loan repaym5t &      
default rates1 loan repaym5t options1 & 
graduation rates4  7,,iii7 ,9 ! case ( a
 prospective /ud5t1 ! process & deadl9es
 = enroll+ at ! in/itution4  7,,iv7     
,in=mation reg>d+ ! enrollm5t p]iod     
cov]$ by ! aid (f]1 & :e!r ! co/ & aid  
e/imates are bas$ on full-"t or "p-"t   
enrollm5t4  7,d7 ,/&>diz$ quick ref]5ce 
box ,a f9ancial aid (f] provid$ by an   
in/itution ( high] education %all       
include a /&>diz$ quick ref]5ce box to  
enable /ud5ts to quickly & easily comp>e
 key in=mation on college co/s &        
f9ancial aid--  7i7 t %all be includ$ 9 
an id5tical fa%ion = ea* /ud5t receiv+ a
 f9ancial aid (f] f ! in/itution on !   
fir/ page ( su* (f]2  7ii7 ! cont5ts &  
/ructure ( :i* %all be develop$ ?r\gh   

consum] te/+ conduct$ "u p>agraph 7,e72 
&  7iii7 %all include ?ree data elem5ts3
 7,i7 ,co/ ( att5dance4  7,,ii7 ,total  
grants & s*ol>%ips (f]$4  7,,iii7 ,net  
price4  7,e7 ,consum] te/+ ,! ,secret>y 
%all-- 7i7 conduct consum] te/+ t %all  
s]ve z ! basis 9 det]m9+ ! requirem5ts =
 f9ancial aid (f]s publi%$ "u           
subp>agraph 7,a71 :i* %all include      
/ud5ts 7includ+ l[-income /ud5ts1       
,engli% le>n]s1 fir/ g5]ation college   
/ud5ts1 vet]an /ud5ts1 graduate /ud5ts1 
& und]graduate /ud5ts 7includ+          
prospective /ud5ts & return+ /ud5ts771  
/ud5ts' families 7includ+ l[-income     
families1 families ( ,engli% le>n]s1 &  
families ) fir/ g5]ation college        
/ud5ts71 in/itutions ( high] education  
7includ+ repres5tatives f two- & f\r-ye>
 in/itutions1 public & private          
in/itutions1 & m9ority-s]v+             
in/itutions71 second>y s*ool &          
po/second>y c\nselors1 f9ancial aid     
adm9i/rators1 nonpr(it college access   
organizations1 & nonpr(it consum] gr\ps2

 &  7ii7 n lat] ?an #fj days aft] !     
publication ( ! requirem5ts "u          
subp>agraph 7,a7-- 7,i7 issue a report  
on ! f9d+s ( ! consum] te/+ "u ?is      
subp>agraph2 &  7,,ii7 specify ways 9   
:i* ! f9d+s are reflect$ 9 su*          
requirem5ts4  7#b7 ,def9itions ,9 ?is   
subsection--  7,a7 ! t]m co/ ( att5dance
 has ! mean+ giv5 ! t]m 9 section #dgb2 
7,b7 ! t]m ,engli% le>n] has ! mean+    
giv5 ! t]m 9 section #haja7bj7 ( !      
,elem5t>y & ,second>y ,education ,act ( 
#aife 7#bj ,u4,s4,c4 #ghja7bj771 except 
t su* t]m does n include individuals    
describ$ 9 subp>agraph 7,b7 ( su*       
section2  7,c7 ! t]m fir/ g5]ation      
college /ud5t has ! mean+ giv5 ! t]m 9  
section #djb;,a7h72  7,d7 ! t]m         
l[-income /ud5t has ! mean+ giv5 ! t]m 9
 section #dai,n7b77#g72 &  7,e7 ! t]m   
m9ority-s]v+ in/itution means an        
in/itution ( high] education describ$ 9 
section #cga7;a74  4