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S.1156: Understanding the True Cost of College Act of 2013

About this Bill

This bill was introduced in the 113th Congress
This bill is primarily about education
You can read the bill
Sponsor Al Franken, D-Minn.
Total Cosponsors 17 (15 Democrats, 2 Republicans)
Introduced June 13, 2013
Latest Major Action June 13, 2013
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Bill Progress

  • Bill introduced in the Senate   
  • Bill passed in the Senate   
  • Bill passed in the House   
  • Bill signed into law

Bill Summary

Understanding the True Cost of College Act of 2013 - Amends the Higher Education Opportunity Act to refer to the Secretary of Education's model institution of higher eduction (IHE) financial aid offer form as the standard form.

Requires the standard form to include certain additional items, such as: (1) information concerning work study assistance, including its dependence on the availability of employment opportunities; (2) the disclosure that federal student loans offer generally more favorable terms and repayment options than private education loans; (3) the deadline for and a summary of the financial aid acceptance process; (4) the academic period covered by the offer and whether the aid is based on full-time or part-time enrollment; and (5) the IHE's most recent cohort default rate compared to the national average cohort default rate, if more than 30% of the school's students take out student loans.

Requires more detailed information to be included on the form...

(Source: Congressional Research Service)

Bill Actions

Date Description
June 13, 2013 Read twice and referred to the Committee on Health, Education, Labor, and Pensions.