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Committee approves College Financial Aid Clarity Act to standardize aid offers, sets implementation deadlines
Summary
The committee reported HR6502, directing the Department of Education to develop standardized, consumer‑tested formats for financial aid offers and requiring institutions to adopt them by a set deadline; the amendment in the nature of a substitute was agreed to and the bill was reported 23‑10.
The House Education and Labor Committee on Thursday approved HR6502, the College Financial Aid Clarity Act, which directs the Department of Education to develop standardized, consumer‑tested formatting requirements for financial aid offer letters and requires institutions that receive Title IV funds to adopt the format.
Representative Bob Onder, explaining an amendment in the nature of a substitute, said the bill…
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