HR 6502
· 119th Congress
· Education
College Financial Aid Clarity Act of 2025
Sponsor
Latest action
Placed on the Union Calendar, Calendar No. 394.
Action timeline
Every recorded action on this bill, newest first. Stage badges color-code the legislative path.
Jan 21, 2026
committee
Reported (Amended) by the Committee on Education and Workforce. H. Rept. 119-460.
Education and Workforce Committee
Jan 21, 2026
other
Placed on the Union Calendar, Calendar No. 394.
Dec 11, 2025
committee
Committee Consideration and Mark-up Session Held
Education and Workforce Committee
Dec 11, 2025
committee
Ordered to be Reported (Amended) by the Yeas and Nays: 23 - 10.
Education and Workforce Committee
Dec 09, 2025
introduced
Introduced in House
Dec 09, 2025
introduced
Referred to the House Committee on Education and Workforce.
Education and Workforce Committee
Text versions
Each stage of the bill — official text published by GPO. Click any format to read on congress.gov / govinfo.
CRS summaries
Plain-English summaries written by the Congressional Research Service — neutral, nonpartisan staff who summarize bills as they advance through stages. The authoritative description of what each version of the bill does.
07
Reported to House
Jan 21, 2026
College Financial Aid Clarity Act of 2025
This bill requires the Department of Education (ED) to develop, and for institutions of higher education (IHEs) to use, a standardized, consumer-tested format for all financial aid offers.
Any financial aid offer must include specified details and disclosures, including (1) cost information (e.g., cost of attendance and net price); (2) disclosures related to loans (e.g., applicable interest rates); (3) information on student employment opportunities; and (4) next steps for accepting, adjusting, or declining financial aid.
Each IHE that participates in federal student aid programs must (1) include the required information for all financial aid offers (including paper, mobile, or electronic offers), (2) provide supplemental content and disclosures (e.g., requirements for renewing financial aid), and (3) use consistent terminology for all communications related to financial aid offers.
via Congressional Research Service · published through congress.gov
Changelog
ⓘ
How a bill moves through Congress. Each stage produces a new official text. The diff between them shows what changed at that step.
ih / is — Introduced in House / Senate. First filed version.rfh / rfs — Referred to a committee for review.rh / rs — Reported back by the committee to the floor (often with amendments — this is where most language changes happen).pcs / pch — Placed on Calendar for floor consideration.eh / es — Engrossed. Passed by the originating chamber. Text is now what was actually voted on.rdh / rds — Received by the other chamber.eah / eas — Engrossed Amendment. The other chamber passed an amended version.ath / ats — Agreed to. Both chambers settled on the same text.enr — Enrolled. Final reconciled text, sent to the President.pl — Public Law. Signed by the President. It's now law.pp — Public Print. Official printing post-enactment.
Most bills die before eh/es. Going from pcs → enr is the full path through both chambers.
ⓘ
How a bill moves through Congress. Each stage produces a new official text. The diff between them shows what changed at that step.
ih/is— Introduced in House / Senate. First filed version.rfh/rfs— Referred to a committee for review.rh/rs— Reported back by the committee to the floor (often with amendments — this is where most language changes happen).pcs/pch— Placed on Calendar for floor consideration.eh/es— Engrossed. Passed by the originating chamber. Text is now what was actually voted on.rdh/rds— Received by the other chamber.eah/eas— Engrossed Amendment. The other chamber passed an amended version.ath/ats— Agreed to. Both chambers settled on the same text.enr— Enrolled. Final reconciled text, sent to the President.pl— Public Law. Signed by the President. It's now law.pp— Public Print. Official printing post-enactment.
Most bills die before eh/es. Going from pcs → enr is the full path through both chambers.
Line-level diff between text versions of this bill — what actually changed at each legislative stage.
+180
−162
120 unchanged
--- Introduced (House)
+++ Reported (House)
@@ -1,11 +1,14 @@
[From the U.S. Government Publishing Office]
-[H.R. 6502 Introduced in House (IH)]
+[H.R. 6502 Reported in House (RH)]
<DOC>
+Union Calendar No. 394
119th CONGRESS
-1st Session
+2d Session
H. R. 6502
+
+[Report No. 119-460]
To amend the Higher Education Act of 1965 to require the Secretary of
Education to develop requirements for institutions of higher education
@@ -19,6 +22,19 @@
Mrs. McClain (for herself and Mrs. Kim) 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 December
+9, 2025]
_______________________________________________________________________
@@ -72,39 +88,30 @@
``(2) Supplemental content and disclosures.--Each
institution of higher education described in paragraph (1)
shall provide, in supplemental documents or through easily
-accessible weblinks to the institution's portal or a website,
-the following:
+accessible links on the institution's portal or a website, the
+following:
``(A) The renewability requirements and conditions
-under which the student can expect to receive similar
-amounts of financial aid that is included in the
-student's financial aid offer for each award year the
-student is enrolled at the institution.
+under which the student can expect to receive, for each
+award year the student is enrolled at the institution,
+similar amounts of financial aid.
``(B) Whether the financial aid offer may change if
aid from outside sources is applied after the student
receives the initial financial aid offer, and, if
applicable, how that financial aid offer will change.
``(C) If loans made under part D of title IV or
other education loans offered through Federal programs
-are included, a disclosure that the interest rates and
-fees on such loans are set annually and affect total
-cost over time, a link to any website that includes
-current information on interest rates and fees, and a
-disclosure that such loans have to be repaid and the
-student can borrow an amount less than the offered loan
-amount.
+are included--
+``(i) a disclosure that the interest rates
+and fees on such loans are set annually and
+affect total cost over time;
+``(ii) a link to any website that includes
+current information on interest rates and fees;
+and
+``(iii) a disclosure that such loans have
+to be repaid and the student can borrow an
+amount less than the offered loan amount.
``(D) A link to the College Financing Plan website
-of the Department (or the successor website).
-``(3) Omission of information.--An institution of higher
-education may omit information listed in subsection (c) or
-paragraph (2) of this subsection from a financial aid offer or
-supplemental document provided to a student, respectively, if
-the information--
-``(A) relates to aid--
-``(i) for which the student is ineligible;
-or
-``(ii) is provided through a program with
-which the institution does not participate; or
-``(B) is otherwise inapplicable to the student.
+of the Department (or a successor website).
``(b) Secretarial Requirements.--
``(1) Requirements for institutions of higher education.--
``(A) Consumer testing.--The Secretary shall--
@@ -149,16 +156,26 @@
and
``(B) notify each institution of higher education
that receives Federal financial assistance under this
-Act of such best practices and the requirements of
+Act of such requirements and the requirements of
subsection (a).
+``(3) Sample of financial aid offers.--Not later than July
+1, 2029, and every other year thereafter, the Secretary shall,
+in a manner consistent with applicable Federal privacy
+statutes--
+``(A) collect a random representative sample of
+financial aid offers made by institutions for the most
+recent award year; and
+``(B) review such offers for compliance with the
+requirements of subsection (a)(1)(A)(i).
``(c) Information Required.--To comply with subsection (a), an
institution of higher education shall include the following information
in any financial aid offer that is made by the institution:
``(1) Information for the award year covered by the
offer.--
-``(A) Award year information.--The award year
-covered by the financial aid offer, and an explanation
-that the amount of financial aid offered may differ--
+``(A) Award year information.--The program of study
+and the award year of such program of study covered by
+the financial aid offer, and an explanation that the
+amount of financial aid offered may differ--
``(i) for academic periods not covered by
the financial aid offer, such as a summer term
or future award year; and
@@ -174,8 +191,7 @@
award year.
``(iii) An indication, as applicable, about
whether any of the items used to calculate the
-required costs included in clause (i) which are
-subject to change are--
+required costs included in clause (i) are--
``(I) estimated based on the
previous year; or
``(II) set for the award year
@@ -183,36 +199,46 @@
``(C) Annual grants and scholarships.--The amount
of grant and scholarship aid for the award year covered
by the financial aid offer.
-``(D) Annual net price of attendance.--
-``(i) Annual net price of attendance.--The
+``(D) Annual net price.--
+``(i) Annual net price for completion.--The
+annual net price for completion for the award
+year covered by the financial aid offer, and a
+disclosure that such amount is an estimate.
+``(ii) Annual net price of attendance.--The
annual net price of attendance for the award
-year covered by the financial aid offer.
-``(ii) Disclosure.--A disclosure that the
-total and annual net price of attendance of the
-student includes costs that are not required
-costs and is an estimate.
+year covered by the financial aid offer, and a
+disclosure that such amount--
+``(I) includes costs that are not
+required costs; and
+``(II) is an estimate.
``(E) Loans.--Information on each loan for which
the student is eligible for the award year covered by
-the offer (including any loan disbursed by the
-institution, and any other loan (such as a Federal,
-State, or private loan)), including--
-``(i) the total amount of each type of loan
-offered to the student;
-``(ii) for each loan, any applicable
-interest rate, including any capitalization of
-interest on the loan, and fees (including
-origination fees and additional costs);
-``(iii) if applicable, information on any
-loan repayment plan offered by the institution;
-and
-``(iv) a disclosure that the interest rates
+the offer (including any institutional, Federal, State,
+or private loan), including--
+``(i) with respect to each such loan--
+``(I) the total amount offered to
+the student;
+``(II) any applicable interest
+rate, including information on
+circumstances in which interest may be
+capitalized on the loan, and any
+applicable fees (including origination
+fees and additional costs); and
+``(III) information on any
+applicable loan repayment assistance
+offered by the institution;
+``(ii) a disclosure that the interest rates
and fees on such loans can affect total cost
-over time, and a disclosure that such loans
-have to be repaid and the student can borrow an
-amount less than the recommended loan amount.
+over time;
+``(iii) a disclosure that such loans have
+to be repaid; and
+``(iv) a disclosure that the student can
+borrow an amount less than the offered loan
+amount.
``(2) Grants and scholarships for the program length.--The
amount of grant and scholarship aid for the program length of
-the student's program of study.
+the program of study for which the financial aid offer is
+provided.
``(3) Student employment.--Information on work-study
employment opportunities (including work-study programs under
part C of title IV, institutional work-study programs, or State
@@ -228,30 +254,31 @@
student.
``(4) Net price calculator.--A link to the universal net
price calculator website described in section 132(c)(4).
-``(5) Cost information for the most recent award year.--
-``(A) Average annual net price required for
-completion.--Average annual net price required for
-completion for the most recent award year for the
-program of study.
-``(B) Total average net price required for
-completion.--The average total net price required for
-completion based on the time to credential for the
-program of study (as determined based on the most
-recent award year).
-``(C) Average annual price of attendance.--Average
-annual price of attendance for the most recent award
-year for the program of study.
-``(D) Total average annual net price of
-attendance.--The average annual net price of attendance
-based on the time to credential for the program of
-study (as determined based on the most recent award
-year)
-``(E) Disclosure.--A disclosure that the
-information provided in this paragraph is based on
-required costs and amounts of grant and scholarship aid
-for the most recent award year, and such information
-may not be applicable to the student receiving the
-financial aid offer.
+``(5) Average costs for the most recent award year.--
+``(A) In general.--With respect to a program of
+study for which the financial aid offer is provided--
+``(i) for the most recent award year for
+which data is available--
+``(I) the average annual net price
+required for completion; and
+``(II) the average annual price of
+attendance; and
+``(ii) with respect to students who
+completed a credential for the program of study
+during the most recent award year--
+``(I) the average total net price
+required for completion based on the
+time to credential for the program of
+study; and
+``(II) the average total net price
+of attendance based on the time to
+credential for the program of study.
+``(B) Disclosure.--A disclosure that the
+information provided in subparagraph (A) is based on
+the required costs and amounts of grant and scholarship
+aid applicable to other students for the most recent
+award year, and such information may not be applicable
+to the student receiving the financial aid offer.
``(6) Process for accepting, adjusting, or declining aid
and next steps.--
``(A) Deadlines.--The deadlines and a summary of
@@ -261,7 +288,7 @@
and
``(iii) declining the aid offered.
``(B) Payment.--Information on when and how costs
-described in paragraph (1)(A) must be paid.
+described in paragraph (1)(B) must be paid.
``(C) Disclosure.--A disclosure that verification
of information provided on the Free Application for
Federal Student Aid may require the student to submit
@@ -270,14 +297,15 @@
where a student or the student's family can seek
additional information regarding the financial aid
offered, including contact information for the
-institution's financial aid office and the Department
-of Education's website on financial aid.
+institution's financial aid office and a link to the
+Department of Education's student financial aid
+website.
``(E) College costs and student outcome
information.--Information about where a student or a
student's family can seek additional information on
college costs and student outcomes, including a link to
the Department of Education's College Scorecard website
-(or successor website) and how to use such website to
+(or a successor website) and how to use such website to
compare information from institutions of higher
education regarding such costs and outcomes.
``(d) Format Requirements.--
@@ -346,71 +374,42 @@
``(D) offered by a State; or
``(E) offered by any other source.
``(3) 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.
-``(4) 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.
-``(5) Net price of attendance.--
+``(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.
+``(4) 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 program length of
-the program of study, of all the costs listed
-in section 472(a) that are not required costs.
+``(ii) the sum, for the time to credential
+of the program of study, 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 expected
-enrollment for the program length of the program of
-study.
-``(6) Program of study.--
+a student in a program of study, the sum of the annual
+net price required for completion for an award year and
+the costs listed in section 472(a) that are not
+required costs for such award year.
+``(5) Program of study.--
``(A) In general.--The term `program of study'--
``(i) means an eligible program at an
institution of higher education that is
@@ -455,40 +454,36 @@
defined under section 668.2 of title 34, Code
of Federal Regulations), and a postgraduate
certificate.
-``(7) Program length.--The term `program length' means the
+``(6) 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'
+``(7) 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.
-``(9) Cost of attendance.--The term `cost of attendance'
+``(8) Cost of attendance.--The term `cost of attendance'
has the meaning given such term in section 472.''.
-(b) Program Participation Agreement.--Section 487 of the Higher
+(b) Program Participation Agreement.--Section 487(a) of the Higher
Education Act of 1965 (20 U.S.C. 1094(a)) is amended by adding at the
end the following:
``(30) The institution will comply with the requirements of
section 124(a).''.
(c) 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''.
+study.--Section 472(a) of the Higher Education Act of 1965 (20
+U.S.C. 1087ll(a)) is amended--
+(A) 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'';
+(B) in paragraph (2), by striking ``same course of
+study'' and inserting ``same program of study''; and
+(C) 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
@@ -496,4 +491,27 @@
(B) by striking ``of the institution'' and
inserting ``of such programs of study at the
institution''.
-<all>
+Union Calendar No. 394
+
+119th CONGRESS
+
+2d Session
+
+H. R. 6502
+
+[Report No. 119-460]
+
+_______________________________________________________________________
+
+A BILL
+
+To amend the Higher Education Act of 1965 to require the Secretary of
+Education to develop requirements for institutions of higher education
+on formatting financial aid offer forms, 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
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Cosponsors (3)
Members who signed on to support this bill.