119 HR 6498 IH: Student Financial Clarity Act of 2025
U.S. House of Representatives
2025-12-09
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I
119th CONGRESS
1st Session
H. R. 6498
IN THE HOUSE OF REPRESENTATIVES
December 9, 2025
Mr. Guthrie (for himself, Mr. Onder, and Mrs. Trahan) introduced the following bill; which was referred to the Committee on Education and Workforce
A BILL
To amend the Higher Education Act of 1965 to increase transparency in college tuition for consumers, and for other purposes.
1.

Short title
This Act may be cited as the “Student Financial Clarity Act of 2025”.
2.

Transparency in college tuition for consumers
(a)

Amendment
Section 132 of the Higher Education Act of 1965 (20 U.S.C. 1015a) is amended—
(1)
by striking subsections (a) through (j) and inserting the following:
“(a)

Definitions
In this section:
(1)

College scorecard website
The term College Scorecard website means the College Scorecard website required under subsection (b) and includes any successor website.
(2)

Cost of attendance
The term cost of attendance has the meaning given such term in section 472(a).
(3)

Required costs
The term required costs means the sum of all the items listed in section 472(a) that are required by an institution of higher education for a program of study for the program length of a program of study, for the time to credential for a student, or for an award year of a program of study, as applicable, including—
(A)
the tuition and fees normally assessed a student enrolled in such program of study carrying the same academic workload, as determined by the institution; and
(B)
in a case in which the institution requires a student to reside in institutionally owned or operated housing or to use institutionally owned or operated food services, the applicable standard allowance for such housing or food services determined by the institution in accordance with section 472(a)(5).
(4)

Amount of grant and scholarship aid
The term amount of grant and scholarship aid means the sum of all of the grant and scholarship aid that is available to the student for the program length of a program of study, for the time to credential for a student, or for an award year of a program of study, as applicable, that a student does not have to repay, including need-based, merit-based, or athletic-based, or another type of grant and scholarship aid, that is—
(A)
offered under title IV;
(B)
offered through other Federal programs;
(C)
offered by the institution;
(D)
offered by a State; or
(E)
offered by any other source.
(5)

Net price required for completion
(A)

Net price determinations
(i)

Total net price required for completion
The term total net price required for completion means, with respect to a student in a program of study—
(I)
the required costs charged to such student for the program of study for the time to credential; minus
(II)
the amount of grant and scholarship aid that is available to the student for such program for the time to credential.
(ii)

Annual net price required for completion
The term annual net price required for completion means, with respect to a student in a program of study—
(I)
the required costs charged to such student for the program of study for an award year; minus
(II)
the amount of grant and scholarship aid that is available to the student for such program for such award year.
(6)

Net price of attendance
(A)

Total net price of attendance
The term total net price of attendance means, with respect to a student in a program of study, the sum of—
(i)
the total net price required for completion; and
(ii)
the sum, for the time to credential, of all the costs listed in section 472(a) that are not required costs.
(B)

Annual net price of attendance
The term annual net price of attendance means, with respect to a student in a program of study, the net price of attendance for a specific year of the program of study, determined by disaggregating the total net price of attendance for the student by each year of the student’s time to credential.
(7)

Program length
The term program length means the minimum amount of time in weeks, months, or years that is specified in the catalog, marketing materials, or other official publications of an institution of higher education for a full-time student to complete the requirements to obtain the degree or credential awarded for a specific program of study.
(8)

Time to credential
The term ‘time to credential’ means, with respect to a student, the actual amount of time in weeks, months, or years it takes the student to complete the requirements to obtain the degree or credential awarded for a specific program of study.
(b)

Consumer information
(1)

Availability of information for title iv institutions and programs
Not later than 18 months after the effective date of this subsection, the Secretary shall, subject to applicable Federal privacy statutes, make publicly available on the College Scorecard website the following information with respect to students of the institution who have received Federal financial assistance described in paragraph (2)(I), for the most recent award year for which such information is available:
(A)

Institutions
With respect to each institution of higher education that participates in a program under title IV, the following:
(i)
A link to the website of the institution.
(ii)
A link to the Universal Net Price calculator described in subsection (c) and, if applicable, a link to any net price calculator developed by the institution in accordance with paragraph (7) of such subsection.
(iii)
Information on the type of institution, including predominant and highest credential awarded, research intensity, and programs of study offered.
(iv)
In the case of an institution that requires scores for a college entrance examination (such as the SAT or ACT) to be submitted, the subject matter scores and combined scores on such examinations, as applicable.
(v)
The acceptance rate, determined by calculating the percentage of individuals who submitted a completed application to the institution who were accepted for enrollment.
(vi)
The institution’s cohort default rate, as defined under section 435(m).
(vii)
A link to the website of the institution containing the information on campus safety required to be collected under section 485(i).
(B)

Institutions and programs of study
With respect to each such institution and to each program of study at each such institution, the following:
(i)
The geographic location.
(ii)
Information on student enrollment, including the number and percentage of students enrolled full-time, less than full-time, and enrolled in distance education.
(iii)
Information on the number of degree- or certificate-seeking undergraduate students who have transferred from another institution.
(iv)
Information on student progression and completion, including time to credential and rates of withdrawal, retention, transfer, or completion.
(v)
Information on college costs and financial aid, including—
(I)
the average, median, minimum, and maximum values of—
- (aa)
the required costs for such award year;
- (bb)
the cost of attendance for such award year;
- (cc)
the amount of grant and scholarship aid received by students for such award year;
- (dd)
the information described in item (cc) and subclause (II)(cc), disaggregated—
(AA)
by the type of source described in clauses (i) through (v) of subsection (a)(5)(C); and
(BB)
by whether such aid is need-based, merit-based, or athletic-based, or is another type of aid; and
(II)
with respect to students who completed a credential during the most recent award year, the average, median, minimum, and maximum values of—
- (aa)
the program length;
- (bb)
the time to credential;
- (cc)
the amount of grant and scholarship aid received for the time to credential;
- (dd)
the total net price required for completion (determined for the institution based on the total net price required for completion for all programs of study); and
- (ee)
the total net price required for attendance (determined for the institution based on the total net price required for attendance for all programs of study);
(III)
the number and percentage of students receiving any amount of grant and scholarship aid for such award year, and with respect to students who completed a credential during the most recent award year, the number and percentage of such students receiving any amount of grant and scholarship aid for the time to credential;
(IV)
the average annual percentage change and average annual dollar change in the required costs for each of the three most recent academic years for which data are available; and
(V)
the average annual percentage change and average annual dollar change in the total and annual net price required for completion for each of the three most recent academic years for which data are available.
(vi)
Information on student debt and repayment, including—
(I)
the average, median, minimum, and maximum amounts borrowed by students under title IV;
(II)
information with respect to repayment of loans made under title IV, including borrower-based repayment rates, dollar-based repayment rates, and time spent in repayment; and
(III)
the number and percentage of students who—
- (aa)
are borrowers of a loan made under title IV;
- (bb)
are not borrowers of a loan made under title IV, but have at least one parent who is a borrower of a loan made under title IV on behalf of the student; and
- (cc)
are borrowers of a loan made under title IV, and have at least one parent who is a borrower of a loan made under title IV on behalf of the student.
(vii)
Information on the earnings of students, including the average, median, minimum, and maximum values of—
(I)
with respect to students who complete a program of study in the most recent award year for which data are available—
- (aa)
the annual earnings of such students; and
- (bb)
the value-added earnings (as defined in section 481(b)(3)(A)(iv)) of such students; and
(II)
the annual earnings of students who were enrolled in the institution during the most recent award year for which data are available in a program of study, and who at the time the information is reported—
- (aa)
have not completed such program of study; and
- (bb)
are not enrolled at the institution in any program of study.
(C)

Programs of study
With respect to each program of study at each such institution, the credential awarded for completion of the program of study.
(2)

Disaggregated information
The Secretary shall, subject to applicable Federal privacy statutes, ensure the information described in paragraph (1) is disaggregated, as applicable, by the following student characteristics:
(A)
Financial circumstances including—
(i)
household income categories, as determined by students’ and families’ adjusted gross income; and
(ii)
student aid index categories, as determined by the Secretary.
(B)
Sex.
(C)
Race and ethnicity.
(D)
Classification as a student with a disability.
(E)
Enrollment status, including part-time or full-time enrollment, and status as a distance education student.
(F)
Status as a first year, second year, third year, or subsequent year student, based on the number of years a student has been enrolled at the institution or in the program of study, as applicable.
(G)
Status as an in-district, in-State, or out-of-State student.
(H)
Status as an international student.
(I)
The type of Federal financial assistance received, including—
(i)
a Pell Grant;
(ii)
a loan made under title IV; and
(iii)
assistance described in section 131(f)(4) administered, sponsored, or supported by the Department of Defense or the Department of Veterans Affairs.
(J)
Status as a participant in a program described in section 116(b)(3)(A)(ii) of the Workforce Innovation and Opportunity Act (29 U.S.C. 3141(b)(3)(A)(ii)).
(3)

Access and comparisons
The Secretary shall ensure that the College Scorecard website—
(A)
includes a method for users to easily compare institutions and programs, including in a manner that allows for such comparison based on—
(i)
the institutional and program information described in paragraph (1); and
(ii)
the student characteristics described in paragraph (2); and
(B)
provides access to information in an electronic and downloadable format.
(4)

Annual updates; adjustments
(A)

Annual data
The Secretary shall annually update the data on the College Scorecard website required under this subsection.
(B)

Adjustments
The Secretary may adjust the data required under subclauses (III) and (IV) of paragraph (1)(B)(v) using the Consumer Price Index if the Secretary determines such adjustment is necessary.
(5)

Data collection
The Commissioner for Education Statistics shall continue to update and improve the Integrated Postsecondary Education Data System (referred to in this section as “IPEDS”), including the reporting of information by institutions and the timeliness of the data collected.
(c)

Universal net price calculator
(1)

Establishment
Not later than 18 months after the effective date of this subsection, the Secretary shall establish, on a dedicated website of the Department, a Universal Net Price Calculator that—
(A)
allows an individual to select one or more institutions of higher education and one or more programs of study offered by each selected institution for which estimates shall be calculated;
(B)
makes available to the individual, with respect to each selected institution and each selected program of study, the individual’s—
(i)
annual estimated net price required for completion for each year of expected enrollment based on the program length of a program of study, based on the average annual net price required for completion for similarly situated students (based on the individual’s information described in subparagraph (C)(iv)) for such institution or program for the most recent award year, adjusted in accordance with clauses (i) through (iii) of subparagraph (C);
(ii)
total estimated net price required for completion equal to the sum of the annual estimated net price required for completion for each year described in clause (i);
(iii)
annual estimated net price of attendance for each year of expected enrollment based on the program length of a program of study, based on the average annual net price of attendance for similarly situated students (based on the individual’s information described in subparagraph (C)(iv)) for such institution or program for the most recent award year, adjusted in accordance with clauses (i) through (iii) of subparagraph (C); and
(iv)
total estimated net price of attendance equal to the sum of the annual estimated net price of attendance for each year described in clause (iii); and
(C)
with respect to calculating net price estimates as required by subparagraph (B)—
(i)
determines an estimated annual percentage change for each year for which a net price calculation is made, based on the annual percentage change in an institution’s or program’s required costs and other costs under section 472(a), as applicable, for the most recent three-year period for which such data are reported;
(ii)
provides the individual with the option to replace the estimated annual percentage change described in clause (i) with an alternative annual percentage change specified by the individual;
(iii)
in the case of an institution that offers a multi-year tuition or net price guarantee program, allow the individual to have net price estimates calculated based on the provisions of such guarantee program; and
(iv)
uses the individual’s information, based on—
(I)
the single set of questions developed by the Secretary in accordance with paragraph (5);
(II)
the student-level data elements reported by institutions in accordance with section 668.408 of title 34, Code of Federal Regulations (or successor regulations);
(III)
in the case of an individual who submits a Free Application for Federal Student Aid described in section 483, the contents of such application; and
(IV)
any additional information provided by the individual with respect to the individual’s grant and scholarship aid;
(D)
includes a method for users to easily compare institutions and programs; and
(E)
provides access to information in an electronic and downloadable format.
(5)

Development of input questions
The Secretary shall develop a single set of questions for purposes of capturing the information specified in subsection (b)(2).
(6)

Updates
(A)

Data
The Secretary shall update the data on the Universal Net Price Calculator Website, as required under this subsection, not less than annually.
(B)

Technology and format
The Secretary shall regularly assess the format and technology of the Universal Net Price Calculator website and make any changes or updates that the Secretary considers appropriate.
(7)

Integration with other Federal financial aid resources
In accordance with subsection (d)(5) of section 483, the Secretary shall ensure that a website link or other means of accessing the Universal Net Price Calculator is included on the FAFSA website (or similar successor website).
(8)

Interagency coordination
The Secretary, in consultation with each appropriate head of a department or agency of the Federal Government, shall ensure, to the greatest extent practicable, that any information related to higher education that is published by such department or agency is consistent with the information published on the Universal Net Price Calculator website.
(9)

Consumer testing
In developing and maintaining the College Scorecard website and the Universal Net Price Calculator website, the Secretary, in consultation with each appropriate head of each appropriate department and agency of the Federal Government shall—
(A)
not later than 6 months after the date of the effective date of this subsection, and not less than once every 4 years thereafter, conduct consumer testing with appropriate persons, including current and prospective college students, family members of such students, institutions of higher education, and experts, to—
(i)
improve the usefulness and relevance of the College Scorecard website, with respect to the presentation of the consumer information collected subsection (b); and
(ii)
ensure that the Universal Net Price Calculator website is usable and easily understandable and provides useful and relevant information to students and families; and
(B)
display prominently on such websites in simple, understandable, and unbiased terms for the most recent academic year for which satisfactory data is available, the categories of information described in paragraphs (1) and (2) of subsection (b) and paragraph (1)(B) of this subsection that were determined to be useful and relevant to students and families based on the consumer testing described in subparagraph (A).
(10)

Use of net price calculator by institutions
Not later than two years after the date on which the Secretary makes the calculator developed under paragraph (1) available to institutions of higher education, each institution of higher education that receives Federal funds under title IV shall make publicly available on the institution’s website a net price calculator to provide to current and prospective students, families, and other consumers a student’s individual net price estimates at such institution of higher education. Such calculator may be a net price calculator developed—
(A)
by the Department pursuant to paragraph (1); or
(B)
by the institution of higher education, if the institution’s calculator includes, at a minimum, the same data elements included in the calculator developed under paragraph (1).
(11)

Notice
A net price estimate calculated for an individual using the Universal Net Price Calculator under this subsection shall be accompanied by a clear and conspicuous notice—
(A)
stating that the estimate—
(i)
does not represent a final determination, or actual award, of financial assistance;
(ii)
shall not be binding on the Secretary, an institution of higher education, or a State; and
(iii)
may change;
(B)
stating that an individual must complete the Free Application for Federal Student Aid described in section 483 in order to be eligible for, and receive, an actual financial aid award that includes Federal grant, loan, or work-study assistance under title IV; and
(C)
including a link to the website of the Department that allows individuals to access the Free Application for Federal Student Aid described in section 483.”; and
(b)

Conforming amendment
Section 132 of the Higher Education Act of 1965 (20 U.S.C. 1015a) is further amended by redesignating subsections (k) and (l) as subsections (d) and (e), respectively.
3.

Other amendments
(a)

Cost of attendance of a program of study
(1)

Determination of cost of attendance of a program of study
(A)

In general
Section 472(a) of the Higher Education Act of 1965 (20 U.S.C. 1087ll(a)) is amended—
(i)
in paragraph (1), by striking “carrying the same academic workload” and inserting “enrolled in the same program of study and carrying the same academic workload”;
(ii)
in paragraph (2), by striking “same course of study” and inserting “same program of study”; and
(iii)
in paragraph (14), by striking “program” and inserting “program of study”.
(2)

Disclosure
Section 472(c) of the Higher Education Act of 1965 (20 U.S.C. 1087ll(c)) is amended—
(A)
by inserting “of each program of study at the institution” after “cost of attendance”; and
(B)
by striking “of the institution” and inserting “of such programs of study at the institution”.
(b)

Program of study defined
Section 103 of the Higher Education Act of 1965 (20 U.S.C. 1003) is amended—
(1)
by redesignating paragraphs (15) through (24) as paragraphs (16) through (25), respectively; and
(2)
by inserting after paragraphs (14) the following new paragraph:
“(14)

Program of study defined
(A)

In general
The term program of study—
(i)
means an eligible program at an institution of higher education that is classified by a combination of—
(I)
one or more CIP codes; and
(II)
one credential level, determined by the credential awarded upon completion of the program; and
(ii)
does not include a program of study abroad.
(B)

CIP code
The term CIP code means the six-digit taxonomic identification code assigned by an institution of higher education to a specific program of study at the institution, determined by the institution of higher education in accordance with the Classification of Instructional Programs published by the National Center for Education Statistics.
(C)

Credential level
(i)

In general
The term credential level means the level of the degree or other credential awarded by an institution of higher education to students who complete a program of study of the institution. Each degree or other credential awarded by an institution shall be categorized by the institution as either undergraduate credential level or graduate credential level.
(ii)

Undergraduate credential
When used with respect to a credential or credential level, the term undergraduate credential includes credentials such as an undergraduate certificate, an associate degree, a bachelor’s degree, and a post-baccalaureate certificate (including the coursework specified in paragraphs (3)(B) and (4)(B) of section 484(b)).
(iii)

Graduate credential
When used with respect to a credential or credential level, the term graduate credential includes credentials such as a master’s degree, a doctoral degree, a professional degree (as defined under section 668.2 of title 34, Code of Federal Regulations), and a postgraduate certificate.”.
(c)

Elimination of early estimator tool
Paragraph (4) of section 485E(b) of the Higher Education Act of 1965 (20 U.S.C. 1092f(b)) is repealed.
(d)

Conforming amendments
(1)

Higher Education Act of 1965
The Higher Education Act of 1965 (20 U.S.C. 1001 et seq.), as amended by this Act, is further amended by striking “College Navigator” each place it appears and inserting “College Scorecard”.
(2)

Other references
Any reference in any law (other than the Higher Education Act of 1965 (20 U.S.C. 1001 et seq.)), regulation, document, record, or other paper of the United States to the College Navigator website shall be considered to be a reference to the College Scorecard website.
4.

Effective date
This Act and the amendments made by this Act shall take effect on July 1, 2027, and shall apply with respect to award year 2027–2028 and each subsequent award year, as determined under the Higher Education Act of 1965.