,i  #aag? ,,congress  #b;d ,session  ,h4
 ,r4 #idbi  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,decemb] #e1          
#bjbb,mrs4 ,mc,clain 7= h]self & ,ms4   
,foxx7 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 ! ,college ,co/          
,transp>5cy & ,/ud5t ,protection ,act4  
#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 ,in/itutional requirem5ts ,beg9n+ )
 ! fir/ aw>d ye> t beg9s n less ?an #a  
ye> aft] ! ,secret>y publi%es           
requirem5ts "u subp>agraph 7#b71 ea*    
in/itution ( high] education p>ticipat+ 
9 any program "u ?is title %all provide 

to ea* enroll$ /ud5t 7& prospective     
/ud5t accept$ = enrollm5t7 at su*       
in/itution :o applies = f9ancial        
assi/ance "u ?is title1 a f9ancial aid  
(f] t-- 7,a7 %all comply ) ! requirem5ts
 publi%$ by ! ,secret>y "u p>agraph     
7#b72 &  7,b7 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 p>agraph 7#b74    
7#b7 ,secret>ial requirem5ts ,n lat] ?an
 #ah mon?s aft] ! date ( enactm5t ( !   
,college ,co/ ,transp>5cy & ,/ud5t      
,protection ,act1 ! ,secret>y %all1 bas$
 on ! consum] te/+ conduct$ "u p>agraph 
7#d71 publi% requirem5ts = f9ancial aid 
(f]s to be us$ by in/itutions ( high]   
education "u p>agraph 7#a71 :i* %all--  
7,a7 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* enroll$ /ud5t 7&   

prospective /ud5t accept$ = enrollm5t7  
at su* in/itution2  7,b7 include a      
requirem5t t no f9ancial aid (f] may be 
ref]r$ to z an aw>d lett]2  7,c7 include
 ! requir$ cont5t describ$ 9 p>agraph   
7#c72  7,d7 e/abli% /&>diz$ t]ms &      
def9itions1 includ+ = ! requir$ cont5t  
describ$ 9 p>agraph 7#c71 :i* %all be   
includ$ 9 ea* f9ancial aid (f]2 &  7,e7 
e/abli% =matt+ requirem5ts ) respect to 
! organization ( ! cont5ts describ$ 9   
p>agraph 7#c71 :i*-- 7i7 %all include-- 
7,i7 a requirem5t t prohibits any su*   
(f] f display+ loans 9 a mann] t        
indicates or implies t su* loans r$uce !
 am\nt ow$ to ! in/itution or r$uce !   
out-(-pocket co/s2 &  7,,ii7 requirem5ts
 t ensure t be=e complet+ ! compon5t (  
an (f] relat+ to indirect co/s1 a /ud5t 
completes ! compon5t ( an (f] relat+ to 
direct co/s & confirms t su* /ud5t is   
seek+ f9ancial assi/ance = indirect     
co/s2 &  7ii7 may n e/abli%1 or require 
t in/itutions ( high] education use1 a  
uni=m =mat = su* (f]s4  7#c7 ,requir$   

cont5t = a f9ancial aid (f]  7,a7 ,9    
g5]al ,an in/itution ( high] education  
%all provide1 to ea* enroll$ /ud5t 7&   
prospective /ud5t accept$ = enrollm5t7  
at su* in/itution :o applies = f9ancial 
assi/ance "u ?is title1 a f9ancial aid  
(f] = an academic p]iod cov]$ by su*    
(f]1 :i* %all include ! foll[+3 7i7 ,a  
compon5t relat+ to ! direct co/s = su*  
/ud5t = su* academic p]iod1 :i* %all    
include ! cont5t describ$ 9 subp>agraphs
 7,b7 & 7,d74  7ii7 ,9 a case 9 :i* !   
/ud5t completes ! compon5t describ$ 9   
clause 7i7 & confirms t su* /ud5t is    
seek+ f9ancial assi/ance = indirect co/s
 = su* academic p]iod1 a compon5t relat+
 to su* indirect co/s1 :i* %all include 
! cont5t describ$ 9 subp>agraphs 7,c7 & 
7,d74  7,b7 ,compon5t = direct co/s ,!  
compon5t ( a f9ancial aid (f] relat+ to 
direct co/s %all include ! foll[+       
cont5t3 7i7 ,e/imat$ sum ( direct co/s  
,! e/imat$ sum ( ! /ud5t's direct co/s =
 ! academic p]iod cov]$ by su* (f]1 :i* 
%all be ! sum (-- 7,i7 ! co/ ( tuition &

 fees1 z def9$ 9 section #dgb7;a77#a71 z
 am5d$ by section #gjb ( ! ,,fafsa      
,simplification ,act2 &  7,,ii7 any o!r 
requir$ exp5ses1 z det]m9$ by !         
in/itution & pres5t$ z an itemiz$ li/4  
7ii7 ,grants & s*ol>%ips  7,i7 ,9 g5]al 
,! aggregate am\nt ( grants & s*ol>%ips 
by s\rce t ! /ud5t does n h to repay1   
su* z grant aid (f]$ "u ?is title &     
grant aid (f]$ ?r\gh o!r ,f$]al         
programs1 grant aid (f]$ by !           
in/itution1 grant aid (f]$ by ! ,/ate1  
&1 if kn[n1 grant aid f an outside s\rce
 = su* academic p]iod4  7,,ii7 ,f$]al   
grant aid ,) respect to ,f$]al grant    
aid1 ! conditions "u :i* ! /ud5t c      
expect to receive simil> am\nts ( su*   
,f$]al grant aid = ea* academic p]iod ! 
/ud5t is enroll$ at ! in/itution4       
7,,iii7 ,in/itutional grant aid ,)      
respect to in/itutional grant aid-- 7aa7
 ! conditions "u :i* ! /ud5t c expect to
 receive simil> am\nts ( su*            
in/itutional grant aid = ea* academic   
p]iod ! /ud5t is enroll$ at !           

in/itution2 &  7bb7 :e!r ! in/itutional 
grant aid (f] may *ange if grants or    
s*ol>%ips f outside s\rces are appli$   
aft] ! /ud5t receives ! f9ancial aid    
(f]1 &1 if applicable1 h[ t in/itutional
 grant aid w *ange4  7,,iv7 ,indirect   
co/s ,an id5tification ( any grants or  
s*ol>%ips describ$ 9 subclause 7,i7 t   
are requir$ to be us$ = any indirect    
co/s select$ by ! /ud5t "u subp>agraph  
7,c77i74  7iii7 ,out-(-pocket co/s      
7relat+ to direct co/s7 ,! out-(-pocket 
co/s 7relat+ to direct co/s7 t ! /ud5t1 
or ! /ud5t's family on behalf ( ! /ud5t1
 is e/imat$ to h to pay = ! /ud5t to    
att5d ! in/itution = su* academic p]iod1
 equal to-- 7,i7 ! e/imat$ sum ( !      
/ud5t's direct co/s describ$ 9 clause   
7i72 m9us  7,,ii7 ! aggregate am\nt (   
grants & s*ol>%ips describ$ 9 clause    
7ii7 t may be us$ to cov] su* direct    
co/s4  7iv7 ,f9anc+ options  7,i7 ,9    
g5]al ,9 pla9 language & bas$ on consum]
 te/+ "u p>agraph 7#d71 ! (f] %all      
include ! foll[+ f9anc+ options 79 !    

foll[+ ord]7 to cov] ! total            
out-(-pocket co/s det]m9$ "u clause     
7iii73 7aa7 ,ca% or o!r p]sonal         
res\rces1 includ+ ! expect$ family      
contribution ( ! /ud5t4  7bb7 ,loans    
made to ! /ud5t "u "p ,d 7exclud+ ,f$]al
 ,direct ,,plus ,loans71 :i* %all--     
7,,aa7 cle>ly label :e!r ! loan is      
subsidiz$ or unsubsidiz$2 & 7,,bb7      
require ! /ud5t to 7#a7 accept any su*  
loan by specify+ ! loan am\nt ! /ud5t is
 accept+ 7:i* may be an am\nt t is less 
?an ! maximum am\nt = :i* su* /ud5t is  
eligible "u "p ,d7 or 7#b7 decl9e any   
su* loan4  7cc7 ,"w-/udy employm5t      
opportunities1 (f]$ 9 accordance ) "p   
,c1 & o!r campus employm5t1 if          
applicable1 :i* %all require ! /ud5t to 
7#a7 accept any su* opportunity or 7#b7 
decl9e any su* opportunity4  7,,ii7     
,disclosures relat$ to cov]$ f9anc+     
options ,! foll[+ disclosures1 9 a      
simple1 pla9-language1 & consum]-fri5dly
 mann] 7bas$ on ! consum] te/+ "u       
p>agraph 7#d773 7aa7 ,grants & s*ol>%ips

 ,grants & s*ol>%ips d n h to be repaid4
  7bb7 ,all ,loans ,all loans mu/ be    
repaid ) int]e/4  7cc7 ,f$]al "w-/udy   
aid ,any "w-/udy employm5t opportunity  
(f]$ "u "p ,c is subject to !           
availability ( qualifi$ employm5t       
opportunities & is disburs$ ov] "t z    
e>n$ by ! /ud5t4  7,,iii7 ,disclosure   
relat$ to o!r f9anc+ options ,a         
disclosure t o!r f9anc+ options 7n li/$ 
9 subclause 7,i77 may be available1     
includ+ private education loans1 ,f$]al 
,direct ,,plus loans1 or in/itutional or
 ,/ate loans1 if applicable4  7,,iv7    
,tuition paym5t plans ,9 pla9 language1 
! (f] %all include in=mation on tuition 
paym5t plans1 if applicable4  7v7       
,disclosure & confirmation relat+ to    
indirect co/s ,a disclosure t ! f9anc+  
options = indirect co/s select$ by !    
/ud5t "u subp>agraph 7,c77i7 may include
 loans t mu/ be repaid ) int]e/1 & a    
requirem5t = ! /ud5t to confirm :e!r !  
/ud5t is seek+ f9ancial assi/ance = su* 
indirect co/s4  7,c7 ,compon5t =        

indirect co/s ,! compon5t ( a f9ancial  
aid relat+ to indirect co/s %all include
 ! foll[+ cont5t3 7i7 ,selection (      
indirect co/s ,! /ud5t %all h ! ability 
to select ea* compon5t ( ! co/ (        
att5dance "u section #dgb1 z am5d$ by   
section #gjb ( ! ,,fafsa ,simplification
 ,act 7o!r ?an ! direct co/s det]m9$ "u 
subp>agraph 7,b77i77 = :i* ! /ud5t ne$s 
support = ! academic p]iod cov]$ by !   
(f]1 :i* may include compon5ts relat+ to
 h\s+ & food1 books & supplies1         
transportation1 & miscellane\s p]sonal  
exp5ses4  7ii7 ,e/imat$ sum ( indirect  
co/s ,! e/imat$ sum ( ! /ud5t's indirect
 co/s = ! academic p]iod cov]$ by su*   
(f]1 z det]m9$ by ! sum ( ea* ( !       
compon5ts ( indirect co/s select$ "u    
clause 7i74  7iii7 ,grants & s*ol>%ips  
,any am\nts ( ! grants & s*ol>%ips      
id5tifi$ "u subp>agraph 7,b77ii71 :i*-- 
7,i7 rema9 available aft] f9anc+ !      
direct co/s det]m9$ "u subp>agraph      
7,b77i72 or  7,,ii7 are requir$ to be   
us$ = indirect co/s1 z describ$ 9       

subclause 7,,ii7 ( subp>agraph 7,b77ii74
  7iv7 ,out-(-pocket co/s 7relat+ to    
indirect co/s7 ,! out-(-pocket co/s     
7relat+ to indirect co/s7 t ! /ud5t1 or 
! /ud5t's family on behalf ( ! /ud5t1 is
 e/imat$ to h to pay = ! /ud5t to att5d 
! in/itution = su* academic p]iod1 equal
 to-- 7,i7 ! e/imat$ sum ( indirect co/s
 det]m9$ "u clause 7ii72 m9us  7,,ii7 ! 
am\nt ( grants & s*ol>%ips det]m9$ "u   
clause 7iii74  7v7 ,total co/ (         
att5dance ,! total co/ ( att5dance = !  
/ud5t1 equal to ! sum (-- 7,i7 ! e/imat$
 sum ( ! /ud5t's direct co/s det]m9$    
subp>agraph 7,b77i72 &  7,,ii7 ! e/imat$
 sum ( ! /ud5t's indirect co/s det]m9$  
"u clause 7ii74  7vi7 ,total            
out-(-pocket co/s ,! total out-(-pocket 
co/s t ! /ud5t1 or ! /ud5t's family on  
behalf ( ! /ud5t1 is e/imat$ to h to pay
 = ! /ud5t to att5d ! in/itution = su*  
academic p]iod1 equal to ! sum (-- 7,i7 
! out-(-pocket co/s 7relat+ to direct   
co/s7 det]m9$ "u subp>agraph 7,b77iii72 
&  7,,ii7 ! out-(-pocket co/s 7relat+ to

 indirect co/s7 det]m9$ "u clause 7iv74 
7vii7 ,f9anc+ options ,9 pla9 language1 
! (f] %all include-- 7,i7 ea* ( ! f9anc+
 options li/$ "u subp>agraph            
7,b77iv77,i71 :i* rema9 available aft]  
f9anc+ ! direct co/s det]m9$ "u         
subp>agraph 7,b77i72 &  7,,ii7 !        
disclosures describ$ 9 subclauses 7,,ii7
 & 7,,iii7 ( subp>agraph 7,b77iv74  7,d7
 ,requir$ cont5ts = bo? compon5ts ,ea*  
compon5t ( ! (f] describ$ 9 clauses 7i7 
& 7ii7 ( subp>agraph 7,a7 %all include !
 foll[+ cont5t3 7i7 ,academic p]iod ,an 
indication ( ! academic p]iod cov]$ by !
 f9ancial aid (f]1 an explanation t !   
f9ancial aid (f]$ may *ange = academic  
p]iods n cov]$ by ! aid (f] or by       
program1 & an indication1 z applicable1 
ab\t :e!r ! co/s id5tifi$ "u su* (f] are
 e/imat$ bas$ on ! previ\s ye>1 or are  
set1 = ! academic p]iod cov]$ by su*    
(f]4  7ii7 ,enrollm5t int5sity ,an      
indication ( :e!r co/ & aid e/imates are
 bas$ on full-"t or "p-"t enrollm5t4    
7iii7 ,in/itutional grant aid ,9 ! case 

( an in/itution ( high] education t     
adju/s aw>ds ( in/itutional grant aid   
bas$ on /ud5t receipt ( f9ancial        
assi/ance n receiv$ "u ?is title-- 7,i7 
a /atem5t t eligibility = in/itutional  
grant aid may be impact$ by ! receipt ( 
f9ancial assi/ance n receiv$ "u ?is     
title 7includ+ all s*ol>%ips1 grants1   
loans1 or o!r assi/ance kn[n to !       
in/itution at ! "t ! det]m9ation ( !    
/ud5t's ne$ is made72 &  7,,ii7 !       
in/itutional policies relat+ to h[      
receipt ( su* assi/ance may impact      
eligibility =1 & ! am\nt (1 in/itutional
 grant aid4  7iv7 ,next /ep in/ructions 
,next /ep in/ructions1 includ+-- 7,i7 ! 
process & deadl9es = accept+ 7& decl9+7 
! f9ancial aid (f]$ 9 ! (f]2 &  7,,ii7  
in=mation ab\t :]e to f9d additional    
in=mation on ! f9ancial aid (f]$1       
includ+ contact in=mation = !           
in/itution's f9ancial aid (fice & !     
,dep>tm5t ( ,education's website on     
f9ancial aid4  7v7 ,/ati/ics on po/     
completion e>n+s & loan repaym5t  7,i7  

,9 g5]al ,/ati/ics 7:i* may be pres5t$ z
 mon?ly am\nts7 on ! m$ian e>n+s & m$ian
 paym5ts on loans made "u "p ,d 7exclud+
 ,f$]al ,direct ,,plus ,loans71 =       
graduates (1 or individuals :o complete1
 ! program = :i* ! /ud5t receiv+ !      
f9ancial aid (f] is enroll$ 7or1 9 a    
case 9 :i* ! /ud5t has n select$ a      
program ( /udy1 = ! in/itution74  7,,ii7
 ,disclosure ,any /ati/ics provid$ "u   
?is clause %all include a disclosure t  
su* /ati/ics may n apply to ! /ud5t     
receiv+ ! (f]4  7vi7 ,in=mation =       
prospective /ud5ts ,9 ! case ( a        
prospective /ud5t1 ! process & deadl9es 
= enroll+ at ! in/itution1 if su*       
in=mation is det]m9$ necess>y by !      
,secret>y bas$ on ! consum] te/+        
conduct$ "u p>agraph 7#d74  7vii7       
,deliv]y confirmation ,include a deliv]y
 confirmation = electronic f9ancial aid 
(f] =ms1 except t receipt ( ! =ms %all n
 be consid]$ an acceptance or rejection 
( aid4  7#d7 ,consum] te/+ ,! ,secret>y 
%all-- 7,a7 conduct consum] te/+ t      

%all-- 7i7 s]ve z ! basis 9 det]m9+ !   
requirem5ts = f9ancial aid (f]s publi%$ 
"u p>agraph 7#b72 &  7ii7 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
 &  7,b7 n lat] ?an #fj days aft] !     
publication ( ! requirem5ts "u p>agraph 
7#b7-- 7i7 issue a report on ! f9d+s ( !
 consum] te/+ "u ?is p>agraph2 &  7ii7  
specify ways 9 :i* ! f9d+s are reflect$ 
9 su* requirem5ts4  7#e7 ,data report+  

,n lat] ?an #ah mon?s aft] ! date (     
enactm5t ( ! ,college ,co/ ,transp>5cy &
 ,/ud5t ,protection ,act1 ! ,secret>y   
%all ensure t in=mation publi%$ on !    
,college ,scorec>d website ( ! ,dep>tm5t
 7or any successor website71 or !       
website ( ea* in/itution ( high]        
education p>ticipat+ 9 any program "u   
?is title-- 7,a7 ) respect to ! net     
price or ! co/ ( att5dance ( an         
in/itution ( high] education1 provides  
sep>ate co/ e/imates = direct co/s &    
indirect co/s1 9 a mann] consi/ ) ! /&>d
 t]ms & def9itions publi%$ "u p>agraph  
7#b72 &  7,b7 ) respect to ! m$ian e>n+s
 or m$ian paym5ts on loans made "u ?is  
title = /ud5ts :o complete a program (  
/udy at an in/itution ( high] education1
 provides su* in=mation 9 a mann]       
consi/5t ) p>agraph 7#c77;,d77v74  7#f7 
,def9itions ,9 ?is subsection-- 7,a7 !  
t]m co/ ( att5dance has ! mean+ giv5 !  
t]m 9 section #dgb2  7,b7 ! t]m direct  
co/s1 us$ ) respect to a /ud5t1 means ! 
co/s det]m9$ "u p>agraph 7#c77;,b77i7 = 

su* /ud5t2  7,c7 ! 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,d7 ! t]m fir/ g5]ation
 college /ud5t has ! mean+ giv5 ! t]m 9 
section #djb;,a7h72  7,e7 ! t]m indirect
 co/s1 us$ ) respect to a /ud5t1 means !
 co/s det]m9$ "u p>agraph 7#c77;,c77ii7 
= su* /ud5t2  7,f7 ! t]m l[-income /ud5t
 has ! mean+ giv5 ! t]m 9 section       
#dai,n7b77#g72  7,g7 ! t]m m9ority-s]v+ 
in/itution means an in/itution ( high]  
education describ$ 9 section #cga7;a72 &
  7,h7 ! t]m private education loan has 
! mean+ giv5 ! t]m 9 section #adj ( !   
,tru? 9 ,l5d+ ,act4  4