Incoming students would know beforehand what tuition costs would be at the American universities and colleges they plan to attend under bipartisan legislation introduced on April 30 by U.S. Rep. Rodney Davis (R-IL) that aims to improve tuition transparency and help students lower their loan debt.
“Student loan debt is now the second largest form of consumer debt with the average borrower owing nearly $33,000 in student loans,” Rep. Davis said. “Not only do we need to work on the back end to help deal with student loan debt, but we need to do more to control the cost of college on the front end and ensure students know exactly what they will owe.”
More transparency, said the congressman, “will allow students to plan and hopefully prevent more students from taking out more in loans than is needed.”
Rep. Davis cosponsored the Truth-In-Tuition Act, H.R. 2912, with bill sponsor U.S. Rep. Matt Cartwright (D-PA) and seven other cosponsors, including U.S. Rep. Brian Fitzpatrick (R-PA). The bill would require schools to present each incoming class with a four-year price model and fee schedule or give each student a non-binding estimate of what individual education costs would be, according to a bill summary provided by Rep. Davis’ office.
“I’m proud that my home state of Illinois already requires this level of transparency, and it’s time we bring this policy nationwide,” Rep. Davis said.
There would be no price caps or tuition freezes under the measure, and schools would remain free to determine tuition rates, according to the summary.
H.R. 2912 has been referred for consideration to the U.S. House Education and Labor Committee.