Sen. Chuck Grassley wants to inform prospective college students on true costs of college
Political leaders on both sides of the aisle want to inform prospective college students on costs of college, following a report saying most colleges do not reflect true tuition costs in financial aid offers.
Sen. Chuck Grassley, R-Iowa, exits the stage after giving a reelection speech during a watch party for Iowa Republicans on Election Day at the Hilton Downtown in Des Moines on Tuesday, Nov. 8, 2022. Grassley won reelection and will serve an eight term in the U.S. Senate.
December 7, 2022
Sen. Chuck Grassley, R-Iowa, calls for reform on how colleges inform their students about tuition costs. Grassley has been a critic of President Joe Biden’s student loan forgiveness plan, but says this legislation is one way to address college costs.
“It’s disturbing that so many colleges are misleading students by leaving out important details, conflating loans and grants and even understating total costs,” Grassley said in a statement released on Monday.
Alongside Sen. Tina Smith, D-Minn, and Rep. Young Kim, R-Calif, Grassley calls for Congress to pass the Understanding The True Cost of College Act, which was introduced in 2021, but was not passed in Congress.
“It will create a universal financial aid offer letter so students can easily compare financial aid packages between schools,” Grassley said during a press call on Wednesday.
The act, if passed, will affect prospective college students who are using financial aid offers as a way to make their college decision.
The push for this bill to pass comes after Government Accountability Office released a report that said 91 percent of colleges understate the cost of tuition to their students. Grassley said it is urgent for Congress to pass this piece of legislation.
“Congress needs to pass the Understanding the True Cost of College Act to ensure students are able to easily compare financial aid offers by creating a uniform, standard offer letter. It’s clear our bill is needed now more than ever,” Grassley said in the press release.
Since the announcement of Biden’s student loan forgiveness plan – which forgives up to $10,000 of student loan debt for eligible borrowers and $20,000 for Pell Grant recipients – Grassley has been a strong opponent of the plan, calling it unfair.
Grassley has introduced other forms of legislation that aim to inform families about the costs of higher education, such as the The Net Price Calculator Improvement Act and the The Know Before You Owe Federal Student Loan Act, both of which have not passed.
