H.R. 6498

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6498 Reported in House (RH)]

<DOC>

Union Calendar No. 395
119th CONGRESS
2d Session
H. R. 6498

[Report No. 119-461]

To amend the Higher Education Act of 1965 to increase transparency in 
college tuition for consumers, and for other purposes.

_______________________________________________________________________

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

January 21, 2026

Additional sponsors: Mr. Norcross and Mr. Vindman

January 21, 2026

Reported with an amendment, committed to the Committee of the Whole 
House on the State of the Union, and ordered to be printed
[Strike out all after the enacting clause and insert the part printed 
in italic]
[For text of introduced bill, see copy of bill as introduced on 
December 9, 2025]

_______________________________________________________________________

A BILL

To amend the Higher Education Act of 1965 to increase transparency in 
college tuition for consumers, and for other purposes.

Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ``Student Financial Clarity Act of 
2025''.

SEC. 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 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) 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.
``(B) 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 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, data on such submitted scores.
``(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 (determined 
for an institution based on the 
required costs for all programs 
of study);
``(bb) the cost of 
attendance for such award year 
(determined for an institution 
based on the cost of attendance 
for all programs of study);
``(cc) the amount of grant 
and scholarship aid received by 
students for such award year 
(determined for an institution 
based on the amount of grant 
and scholarship aid received by 
students for all programs of 
study);
``(dd) the information 
described in item (cc) and 
subclause (II)(cc), 
disaggregated--

``(AA) by the type 
of source described in 
subparagraphs (A) 
through (E) of 
subsection (a)(4); and

``(BB) by whether 
such aid is need-based, 
merit-based, or 
athletic-based, or is 
another type of aid;

``(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 
(determined for an institution 
based on the program length for 
all programs of study);
``(bb) the time to 
credential (determined for an 
institution based on the time 
to credential for all programs 
of study);
``(cc) the amount of grant 
and scholarship aid received 
for the time to credential 
(determined for an institution 
based on the amount of grant 
and scholarship aid received by 
students for all programs of 
study);
``(dd) the total net price 
required for completion 
(determined for an 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 an 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 a program 
of study at the institution during the 
most recent award year for which data 
are available, 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 
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) Comparisons; access; privacy.--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);
``(B) provides access to information in an 
electronic and downloadable format; and
``(C) complies with applicable Federal privacy 
statutes and uses appropriate statistical disclosure 
limitation techniques necessary to ensure that the data 
released to the public cannot be used to identify 
specific individuals, including with respect to 
disaggregated information under paragraph (2).
``(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 (IV) and (V) 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);
``(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 (2);
``(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.
``(2) Development of input questions.--The Secretary shall 
develop a single set of questions for purposes of capturing the 
information specified in subsection (b)(2).
``(3) 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.
``(4) 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).
``(5) 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.
``(6) 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 pursuant to 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).
``(7) 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).
``(8) 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;
``(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
``(D) explaining that the net price estimate 
calculated for an individual using the Universal Net 
Price Calculator under this subsection may differ from 
the net price calculated for such individual using an 
institution's net price calculator due to differences 
in data or methodology.''.
(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.

SEC. 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 paragraph (14) the following new 
paragraph:
``(15) 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--
(A) by striking ``College Navigator'' each place it 
appears and inserting ``College Scorecard''; and
(B) in the header of section 487(d)(3), by striking 
``college navigator'' 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.

SEC. 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.
Union Calendar No. 395

119th CONGRESS

2d Session

H. R. 6498

[Report No. 119-461]

_______________________________________________________________________

A BILL

To amend the Higher Education Act of 1965 to increase transparency in 
college tuition for consumers, and for other purposes.

_______________________________________________________________________

January 21, 2026

Reported with an amendment, committed to the Committee of the Whole 
House on the State of the Union, and ordered to be printed