Provisions from a bipartisan bill led by U.S. Rep. Young Kim (R-CA) on Jan. 31 advanced out of the U.S. House Education and the Workforce Committee as part of a larger bill also related to postsecondary education costs.
Provisions from the Understanding the True Cost of College Act of 2023, H.R. 1198, which Rep. Kim sponsored in February 2023 with lead original cosponsor U.S. Rep. Raja Krishnamoorthi (D-IL), passed the committee as part of the College Cost Reduction Act, H.R. 6951, sponsored on Jan. 11 by U.S. Rep. Virginia Foxx (R-NC) and seven Republican original cosponsors.
“The Understanding the True Cost of College Act aims to make the cost of college transparent and easier to understand so families and students can make clear informed decisions to reduce the chance of debt,” Rep. Kim said. “I thank [Committee] Chairwoman Foxx for including this common-sense bill in the College Cost Reduction Act, and I’ll keep fighting to get this across the finish line so future generations can achieve their dream.”
Rep. Kim’s bill would improve and streamline the financial aid process for students and families by standardizing financial aid offer forms, and would ensure that the U.S. Department of Education works with colleges, consumer groups, students, and school guidance counselors to develop standard definitions for award letters, according to a bill summary provided by the congresswoman’s staff.
Additionally, her bill would establish basic minimums of information that must be included on page one of the uniform financial aid offer form, the summary says.
“One major way to reduce student debt is by ensuring that students do not take on unnecessary debt in the first place,” said Rep. Kim. “Students and their families must be able to have accurate information regarding educational opportunities and their cost.”
The House Education and the Workforce Committee voted 22-19 to pass the larger H.R. 6951, which now heads to the full U.S. House of Representatives for action.