ALG applauds Sen. Grassley’s college financial aid transparency bill

Oct. 4, 2019, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement in support of the Understanding the True Cost of College Act (S. 888) being offered by Sen. Chuck Grassley (R-Iowa):

“College financial aid award letters are unnecessarily confusing — especially for first-generation college students. For example, colleges use various terms to describe the same things, frequently omit the cost of attending their school from the letters, and sometimes even avoid using the word ‘loan’ when describing a loan. Parents and students deserve better than this. To address this problem, Sen. Chuck Grassley introduced the Understanding the True Cost of College Act. This bill would require colleges to use standard terms on a uniform financial aid offer form that would include information on total costs, financial aid, and loans, among other things. With better information, students and parents should be able to make better decisions, which should reduce the number of borrowers defaulting on college loan debt — and possibly help rein in out-of-control college costs.”

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