,,ib ,union ,cal5d> ,no4 #cid #aai? ,,congress #b;d ,session ,h4 ,r4 #fejb ,report ,no4 #aai-dfj ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,decemb] #i1 #bjbe ,mrs4 ,mc,clain 7= h]self & ,mrs4 ,kim7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,education & ,work=ce ,janu>y #ba1 #bjbf ,additional sponsors3 ,mr4 ,norcross & ,mr4 ,v9dman ,janu>y #ba1 #bjbf ,report$ ) an am5dm5t1 committ$ to ! ,committee ( ! ,:ole ,h\se on ! ,/ate ( ! ,union1 & ord]$ to be pr9t$ ,/rike out all aft] ! enact+ clause & ins]t ! "p pr9t$ 9 italic ,= text ( introduc$ bill1 see copy ( bill z introduc$ ,decemb] #i1 #bjbe ,a ,,bill ,to am5d ! ,high] ,education ,act ( #aife to require ! ,secret>y ( ,education to develop requirem5ts = in/itutions ( high] education on =matt+ f9ancial aid (f] =ms1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,college ,f9ancial ,aid ,cl>ity ,act ( #bjbe4 #b4 ,f9ancial aid (f]s 7a7 ,9 g5]al ,"p ,b ( title ,i ( ! ,high] ,education ,act ( #aife 7#bj ,u4,s4,c4 #ajaa et seq47 is am5d$ by add+ at ! end ! foll[+3 #abd4 ,f9ancial aid (f]s 7a7 ,in/itutional requirem5ts 7#a7 ,9 g5]al ,beg9n+ on ,july #a1 #bjbi1 an in/itution ( high] education t receives ,f$]al f9ancial assi/ance "u ?is ,act-- 7,a7 %all-- 7i7 = all f9ancial aid (f]s 7includ+ pap]1 or mobile-optimiz$ or o!r electronic (f]s71 include ! in=mation 7includ+ t]m9ology7 li/$ 9 subsection 7c71 & meet ! requirem5ts ( p>agraphs 7#a7 & 7#b7 ( subsection 7d71 9 compliance ) ! requirem5ts publi%$ pursuant to subsection 7b77#b72 7ii7 provide ! supplem5tal cont5t & disclosures describ$ 9 p>agraph 7#b72 & 7iii7 = all communications f ! in/itution relat$ to f9ancial aid (f]s 7includ+ ! supplem5tal cont5t & disclosures describ$ 9 p>agraph 7#b771 use ! t]m9ology ref]5c$ 9 subsection 7c7 9 a consi/5t mann]2 & 7,b7 9 ! case ( an electronic f9ancial aid (f] t includes a requirem5t t a /ud5t confirm receipt ( su* (f]1 may n consid] su* confirmation an acceptance or rejection ( su* (f]4 7#b7 ,supplem5tal cont5t & disclosures ,ea* in/itution ( high] education describ$ 9 p>agraph 7#a7 %all provide1 9 supplem5tal docum5ts or ?r\gh easily accessible l9ks on ! in/itution's portal or a website1 ! foll[+3 7,a7 ,! r5ewability requirem5ts & conditions "u :i* ! /ud5t c expect to receive1 = ea* aw>d ye> ! /ud5t is enroll$ at ! in/itution1 simil> am\nts ( f9ancial aid4 7,b7 ,:e!r ! f9ancial aid (f] may *ange if aid f outside s\rces is appli$ aft] ! /ud5t receives ! initial f9ancial aid (f]1 &1 if applicable1 h[ t f9ancial aid (f] w *ange4 7,c7 ,if loans made "u "p ,d ( title ,,iv or o!r education loans (f]$ ?r\gh ,f$]al programs are includ$-- 7i7 a disclosure t ! int]e/ rates & fees on su* loans are set annually & affect total co/ ov] "t2 7ii7 a l9k to any website t includes curr5t in=mation on int]e/ rates & fees2 & 7iii7 a disclosure t su* loans h to be repaid & ! /ud5t c borr[ an am\nt less ?an ! (f]$ loan am\nt4 7,d7 ,a l9k to ! ,college ,f9anc+ ,plan website ( ! ,dep>tm5t 7or a successor website74 7b7 ,secret>ial requirem5ts 7#a7 ,requirem5ts = in/itutions ( high] education 7,a7 ,consum] te/+ ,! ,secret>y %all-- 7i7 9 consultation ) ! heads ( relevant ,f$]al ag5cies1 n lat] ?an #i mon?s aft] ! date ( enactm5t ( ! ,college ,f9ancial ,aid ,cl>ity ,act ( #bjbe1 e/abli% a process = consum] te/+1 ) ! repres5tatives describ$ 9 subp>agraph 7,b71 requirem5ts = in/itutions ( high] education on =matt+ f9ancial aid (f]s to include ! in=mation 7includ+ t]m9ology7 li/$ 9 subsection 7c71 & to meet ! requirem5ts ( p>agraphs 7#a7 & 7#b7 ( subsection 7d71 9 a mann] t is simple & und]/&able = /ud5ts & ! /ud5ts' families2 & 7ii7 n lat] ?an #h mon?s aft] ! process = consum] te/+ is e/abli%$ pursuant to clause 7i71 conduct & conclude su* consum] te/+4 7,b7 ,repres5tatives ,! repres5tatives describ$ 9 ?is subp>agraph are repres5tatives ( /ud5ts 7includ+ l[-income /ud5ts1 fir/ g5]ation college /ud5ts1 adult /ud5ts1 vet]ans1 s]vicememb]s1 & prospective /ud5ts71 /ud5ts' families 7includ+ l[-income families1 families ) fir/ g5]ation college /ud5ts1 & families ) prospective /ud5ts71 in/itutions ( high] education1 second>y s*ool & po/second>y c\nselors1 nonpr(it organizations 7includ+ s*ol>%ip-grant+ organizations71 private l5d]s1 & ,/ates4 7,c7 ,nonapplication ( pap]work r$uction act ,sub*apt] ,i ( *apt] #ce ( title #dd1 ,unit$ ,/ates ,code1 %all n apply to ! consum] te/+ process "u ?is subsection4 7#b7 ,publication & notice ,n lat] ?an ,july #a1 #bjbh1 ! ,secret>y %all-- 7,a7 publi% ! requirem5ts develop$ pursuant to p>agraph 7#a77;,a7 on a publicly available website2 & 7,b7 notify ea* in/itution ( high] education t receives ,f$]al f9ancial assi/ance "u ?is ,act ( su* requirem5ts & ! requirem5ts ( subsection 7a74 7#c7 ,sample ( f9ancial aid (f]s ,n lat] ?an ,july #a1 #bjbi1 & e o!r ye> !reaft]1 ! ,secret>y %all1 9 a mann] consi/5t ) applicable ,f$]al privacy /atutes-- 7,a7 collect a r&om repres5tative sample ( f9ancial aid (f]s made by in/itutions = ! mo/ rec5t aw>d ye>2 & 7,b7 review su* (f]s = compliance ) ! requirem5ts ( subsection 7a77#a77;,a77i74 7c7 ,in=mation requir$ ,to comply ) subsection 7a71 an in/itution ( high] education %all include ! foll[+ in=mation 9 any f9ancial aid (f] t is made by ! in/itution3 7#a7 ,in=mation = ! aw>d ye> cov]$ by ! (f] 7,a7 ,aw>d ye> in=mation ,! program ( /udy & ! aw>d ye> ( su* program ( /udy cov]$ by ! f9ancial aid (f]1 & an explanation t ! am\nt ( f9ancial aid (f]$ may diff]-- 7i7 = academic p]iods n cov]$ by ! f9ancial aid (f]1 su* z a summ] t]m or future aw>d ye>2 & 7ii7 by program ( /udy4 7,b7 ,annual co/ in=mation ,in=mation on ! /ud5t's e/imat$ co/ ( att5dance = ! aw>d ye> cov]$ by ! f9ancial aid (f]1 includ+ ! foll[+3 7i7 ,! requir$ co/s = su* aw>d ye>1 includ+ ! academic workload us$ to det]m9$ su* requir$ co/s4 7ii7 ,! co/ ( att5dance = su* aw>d ye>4 7iii7 ,an indication1 z applicable1 ab\t :e!r any ( ! items us$ to calculate ! requir$ co/s includ$ 9 clause 7i7 are-- 7,i7 e/imat$ bas$ on ! previ\s ye>2 or 7,,ii7 set = ! aw>d ye> cov]$ by ! f9ancial aid (f]4 7,c7 ,annual ,grants & s*ol>%ips ,! am\nt ( grant & s*ol>%ip aid = ! aw>d ye> cov]$ by ! f9ancial aid (f]4 7,d7 ,annual net price 7i7 ,annual net price = completion ,! annual net price = completion = ! aw>d ye> cov]$ by ! f9ancial aid (f]1 & a disclosure t su* am\nt is an e/imate4 7ii7 ,annual net price ( att5dance ,! annual net price ( att5dance = ! aw>d ye> cov]$ by ! f9ancial aid (f]1 & a disclosure t su* am\nt-- 7,i7 includes co/s t are n requir$ co/s2 & 7,,ii7 is an e/imate4 7,e7 ,loans ,in=mation on ea* loan = :i* ! /ud5t is eligible = ! aw>d ye> cov]$ by ! (f] 7includ+ any in/itutional1 ,f$]al1 ,/ate1 or private loan71 includ+-- 7i7 ) respect to ea* su* loan-- 7,i7 ! total am\nt (f]$ to ! /ud5t2 7,,ii7 any applicable int]e/ rate1 includ+ in=mation on circum/ances 9 :i* int]e/ may be capitaliz$ on ! loan1 & any applicable fees 7includ+ orig9ation fees & additional co/s72 & 7,,iii7 in=mation on any applicable loan repaym5t assi/ance (f]$ by ! in/itution2 7ii7 a disclosure t ! int]e/ rates & fees on su* loans c affect total co/ ov] "t2 7iii7 a disclosure t su* loans h to be repaid2 & 7iv7 a disclosure t ! /ud5t c borr[ an am\nt less ?an ! (f]$ loan am\nt4 7#b7 ,grants & s*ol>%ips = ! program l5g? ,! am\nt ( grant & s*ol>%ip aid = ! program l5g? ( ! program ( /udy = :i* ! f9ancial aid (f] is provid$4 7#c7 ,/ud5t employm5t ,in=mation on "w-/udy employm5t opportunities 7includ+ "w-/udy programs "u "p ,c ( title ,,iv1 in/itutional "w-/udy programs1 or ,/ate "w-/udy programs71 includ+-- 7,a7 ! maximum annual am\nt ! /ud5t may e>n ?r\gh su* an employm5t opportunity2 & 7,b7 a disclosure t any am\nts receiv$ pursuant to su* an employm5t opportunity may be-- 7i7 subject to ! availability ( qualifi$ employm5t opportunities ^u enrollm5t2 & 7ii7 disburs$ ov] "t z e>n$ by ! /ud5t4 7#d7 ,net price calculator ,a l9k to ! univ]sal net price calculator website describ$ 9 section #acb7;c77#d74 7#e7 ,av]age co/s = ! mo/ rec5t aw>d ye> 7,a7 ,9 g5]al ,) respect to a program ( /udy = :i* ! f9ancial aid (f] is provid$-- 7i7 = ! mo/ rec5t aw>d ye> = :i* data is available-- 7,i7 ! av]age annual net price requir$ = completion2 & 7,,ii7 ! av]age annual price ( att5dance2 & 7ii7 ) respect to /ud5ts :o complet$ a cr$5tial = ! program ( /udy dur+ ! mo/ rec5t aw>d ye>-- 7,i7 ! av]age total net price requir$ = completion bas$ on ! "t to cr$5tial = ! program ( /udy2 & 7,,ii7 ! av]age total net price ( att5dance bas$ on ! "t to cr$5tial = ! program ( /udy4 7,b7 ,disclosure ,a disclosure t ! in=mation provid$ 9 subp>agraph 7,a7 is bas$ on ! requir$ co/s & am\nts ( grant & s*ol>%ip aid applicable to o!r /ud5ts = ! mo/ rec5t aw>d ye>1 & su* in=mation may n be applicable to ! /ud5t receiv+ ! f9ancial aid (f]4 7#f7 ,process = accept+1 adju/+1 or decl9+ aid & next /eps 7,a7 ,deadl9es ,! deadl9es & a summ>y ( ! process 7includ+ ! next /eps7 =-- 7i7 accept+ ! f9ancial aid (f]$2 7ii7 adju/+ ! am\nt ( aid (f]$2 & 7iii7 decl9+ ! aid (f]$4 7,b7 ,paym5t ,in=mation on :5 & h[ co/s describ$ 9 p>agraph 7#a77;,b7 mu/ be paid4 7,c7 ,disclosure ,a disclosure t v]ification ( in=mation provid$ on ! ,free ,application = ,f$]al ,/ud5t ,aid may require ! /ud5t to submit fur!r docum5tation4 7,d7 ,f9ancial aid in=mation ,in=mation ab\t :]e a /ud5t or ! /ud5t's family c seek additional in=mation reg>d+ ! f9ancial aid (f]$1 includ+ contact in=mation = ! in/itution's f9ancial aid (fice & a l9k to ! ,dep>tm5t ( ,education's /ud5t f9ancial aid website4 7,e7 ,college co/s & /ud5t outcome in=mation ,in=mation ab\t :]e a /ud5t or a /ud5t's family c seek additional in=mation on college co/s & /ud5t outcomes1 includ+ a l9k to ! ,dep>tm5t ( ,education's ,college ,scorec>d website 7or a successor website7 & h[ to use su* website to comp>e in=mation f in/itutions ( high] education reg>d+ su* co/s & outcomes4 7d7 ,=mat requirem5ts 7#a7 ,9 g5]al ,to comply ) subsection 7a71 any f9ancial aid (f] made by an in/itution ( high] education %all be titl$ ,f9ancial ,aid ,(f]1 use pla9 language :]ev] possible1 & =mat ! in=mation li/$ 9 subsection 7c7 9 accordance ) p>agraph 7#b74 7#b7 ,=mat ( requir$ in=mation ,! in=mation li/$ 9 subsection 7c7 %all be =matt$ 9 a f9ancial aid (f] made by an in/itution ( high] education z foll[s3 7,a7 ,! in=mation requir$ 9 subp>agraphs 7,a7 ?r\gh 7,e7 ( subsection 7c77#a7 is li/$ 9 su* ord]1 "u sep>ate head+s1 & 9 ! same font4 7,b7 ,!re is a cle> di/9ction betwe5 ! requir$ co/s & any o!r co/s ( att5dance includ$ 9 su* f9ancial aid (f]4 7,c7 ,!re is a cle> di/9ction betwe5 ! aid (f]$ "u subp>agraphs 7,c7 & 7,e7 ( subsection 7c77#a71 includ+-- 7i7 by n comb9+ ! diff]5t types ( aid describ$ 9 su* p>agraphs2 & 7ii7 9 su* subp>agraph 7,e7-- 7,i7 by us+ ! ^w loan to cle>ly describe ! recomm5d$ loan am\nts2 & 7,,ii7 by cle>ly di/+ui%+ betwe5 subsidiz$ & unsubsidiz$ loans4 7,d7 ,! t]m9ology ref]5c$ 9 subsection 7c7 is us$ 9 a consi/5t mann]4 7,e7 ,su* in=mation is li/$-- 7i7 9 a mann] t ensures none ( ! in=mation is inappropriately omitt$ or deemphasiz$2 & 7ii7 9 a consi/5t =mat = all f9ancial aid (f]s made by su* in/itution4 7e7 ,def9itions ,9 ?is section3 7#a7 ,requir$ co/s ,! t]m requir$ co/s means ! sum ( all ! items li/$ 9 section #dgb7;a7 t are requir$ by an in/itution ( high] education = a program ( /udy = ! program l5g? ( a program ( /udy1 = ! "t to cr$5tial = a /ud5t1 or = an aw>d ye> ( a program ( /udy1 z applicable1 includ+-- 7,a7 ! tuition & fees normally assess$ a /ud5t enroll$ 9 su* program ( /udy c>ry+ ! same academic workload1 z det]m9$ by ! in/itution2 & 7,b7 9 a case 9 :i* ! in/itution requires a /ud5t to reside 9 in/itutionally own$ or op]at$ h\s+ or to use in/itutionally own$ or op]at$ food s]vices1 ! applicable /&>d all[ance = su* h\s+ or food s]vices det]m9$ by ! in/itution 9 accordance ) section #dgb7;a77#e74 7#b7 ,am\nt ( grant & s*ol>%ip aid ,! t]m am\nt ( grant & s*ol>%ip aid means ! sum ( all ( ! grant & s*ol>%ip aid t is available to ! /ud5t = ! program l5g? ( a program ( /udy1 = ! "t to cr$5tial = a /ud5t1 or = an aw>d ye> ( a program ( /udy1 z applicable1 t a /ud5t does n h to repay1 includ+ ne$-bas$1 m]it-bas$1 or a?letic-bas$1 or ano!r type ( grant & s*ol>%ip aid1 t is-- 7,a7 (f]$ "u title ,,iv2 7,b7 (f]$ ?r\gh o!r ,f$]al programs2 7,c7 (f]$ by ! in/itution2 7,d7 (f]$ by a ,/ate2 or 7,e7 (f]$ by any o!r s\rce4 7#c7 ,net price requir$ = completion 7,a7 ,total net price requir$ = completion ,! t]m total net price requir$ = completion means1 ) respect to a /ud5t 9 a program ( /udy-- 7i7 ! requir$ co/s *>g$ to su* /ud5t = ! program ( /udy = ! "t to cr$5tial2 m9us 7ii7 ! am\nt ( grant & s*ol>%ip aid t is available to ! /ud5t = su* program = ! "t to cr$5tial4 7,b7 ,annual net price requir$ = completion ,! t]m annual net price requir$ = completion means1 ) respect to a /ud5t 9 a program ( /udy-- 7i7 ! requir$ co/s *>g$ to su* /ud5t = ! program ( /udy = an aw>d ye>2 m9us 7ii7 ! am\nt ( grant & s*ol>%ip aid t is available to ! /ud5t = su* program = su* aw>d ye>4 7#d7 ,net price ( att5dance 7,a7 ,total net price ( att5dance ,! t]m total net price ( att5dance means1 ) respect to a /ud5t 9 a program ( /udy1 ! sum (-- 7i7 ! total net price requir$ = completion2 & 7ii7 ! sum1 = ! "t to cr$5tial ( ! program ( /udy1 ( all ! co/s li/$ 9 section #dgb7;a7 t are n requir$ co/s4 7,b7 ,annual net price ( att5dance ,! t]m annual net price ( att5dance means1 ) respect to a /ud5t 9 a program ( /udy1 ! sum ( ! annual net price requir$ = completion = an aw>d ye> & ! co/s li/$ 9 section #dgb7;a7 t are n requir$ co/s = su* aw>d ye>4 7#e7 ,program ( /udy 7,a7 ,9 g5]al ,! t]m program ( /udy-- 7i7 means an eligible program at an in/itution ( high] education t is classifi$ by a comb9ation (-- 7,i7 "o or m ,,cip codes2 & 7,,ii7 "o cr$5tial level1 det]m9$ by ! cr$5tial aw>d$ ^u completion ( ! program2 & 7ii7 does n include a program ( /udy abroad4 7,b7 ,cip code ,! t]m ,,cip code means ! six-digit taxonomic id5tification code assign$ by an in/itution ( high] education to a specific program ( /udy at ! in/itution1 det]m9$ by ! in/itution ( high] education 9 accordance ) ! ,classification ( ,in/ructional ,programs publi%$ by ! ,national ,c5t] = ,education ,/ati/ics4 7,c7 ,cr$5tial level 7i7 ,9 g5]al ,! t]m cr$5tial level means ! level ( ! degree or o!r cr$5tial aw>d$ by an in/itution ( high] education to /ud5ts :o complete a program ( /udy ( ! in/itution4 ,ea* degree or o!r cr$5tial aw>d$ by an in/itution %all be categoriz$ by ! in/itution z ei!r und]graduate cr$5tial level or graduate cr$5tial level4 7ii7 ,und]graduate cr$5tial ,:5 us$ ) respect to a cr$5tial or cr$5tial level1 ! t]m und]graduate cr$5tial includes cr$5tials su* z an und]graduate c]tificate1 an associate degree1 a ba*elor's degree1 & a po/-baccalaureate c]tificate 7includ+ ! c\rsework specifi$ 9 p>agraphs 7#c77;,b7 & 7#d77;,b7 ( section #dhd7;b774 7iii7 ,graduate cr$5tial ,:5 us$ ) respect to a cr$5tial or cr$5tial level1 ! t]m graduate cr$5tial includes cr$5tials su* z a ma/]'s degree1 a doctoral degree1 a pr(essional degree 7z def9$ "u section #ffh4b ( title #cd1 ,code ( ,f$]al ,regulations71 & a po/graduate c]tificate4 7#f7 ,program l5g? ,! t]m program l5g? means ! m9imum am\nt ( "t 9 weeks1 mon?s1 or ye>s t is specifi$ 9 ! catalog1 m>ket+ mat]ials1 or o!r (ficial publications ( an in/itution ( high] education = a full-"t /ud5t to complete ! requirem5ts to obta9 ! degree or cr$5tial aw>d$ = a specific program ( /udy4 7#g7 ,"t to cr$5tial ,! t]m #8"t to cr$5tial' means1 ) respect to a /ud5t1 ! actual am\nt ( "t 9 weeks1 mon?s1 or ye>s x takes ! /ud5t to complete ! requirem5ts to obta9 ! degree or cr$5tial aw>d$ = a specific program ( /udy4 7#h7 ,co/ ( att5dance ,! t]m co/ ( att5dance has ! mean+ giv5 su* t]m 9 section #dgb4 4 7b7 ,program p>ticipation agreem5t ,section #dhg7;a7 ( ! ,high] ,education ,act ( #aife 7#bj ,u4,s4,c4 #ajid7;a77 is am5d$ by add+ at ! end ! foll[+3 7#cj7 ,! in/itution w comply ) ! requirem5ts ( section #abd7;a74 4 7c7 ,co/ ( att5dance ( a program ( /udy 7#a7 ,det]m9ation ( co/ ( att5dance ( a program ( /udy ,section #dgb7;a7 ( ! ,high] ,education ,act ( #aife 7#bj ,u4,s4,c4 #ajhgll7a77 is am5d$-- 7,a7 9 p>agraph 7#a71 by /rik+ c>ry+ ! same academic workload & ins]t+ enroll$ 9 ! same program ( /udy & c>ry+ ! same academic workload2 7,b7 9 p>agraph 7#b71 by /rik+ same c\rse ( /udy & ins]t+ same program ( /udy2 & 7,c7 9 p>agraph 7#ad71 by /rik+ program & ins]t+ program ( /udy4 7#b7 ,disclosure ,section #dgb7;c7 ( ! ,high] ,education ,act ( #aife 7#bj ,u4,s4,c4 #ajhgll7c77 is am5d$-- 7,a7 by ins]t+ ( ea* program ( /udy at ! in/itution aft] co/ ( att5dance2 & 7,b7 by /rik+ ( ! in/itution & ins]t+ ( su* programs ( /udy at ! in/itution4 ,janu>y #ba1 #bjbf ,report$ ) an am5dm5t1 committ$ to ! ,committee ( ! ,:ole ,h\se on ! ,/ate ( ! ,union1 & ord]$ to be pr9t$