An independent federal agency recently released a report which found that almost all colleges fail to provide all the financial information students need. The agency called on Congress to require that colleges give students an accurate estimate for the cost of attendance.
“Federal law doesn’t require colleges to include clear, standard information in all of their financial aid offers. Congress should consider mandating that colleges do so,” the Government Accountability Office said in their report.
While students are given a financial aid letter from schools once they get accepted, these letters are frequently criticized for being unnecessarily complicated.
Many have urged colleges to include tuition, books, housing and food, in their net price. While the Department of Education encourages colleges to include this is their net price estimate, it is not mandated.
Republican Reps. Virginia Foxx and Lisa McClain have introduced legislation aimed at solving this problem.
“The GAO report shows shocking proof of colleges underestimating costs by tens of thousands of dollars, leaving students blindsided with the price tag,” McClain told Fox News Digital. “I am disgusted at the findings of this report, and I will not allow it to go unanswered. Students should never be responsible for footing a bill they don’t even know exists”
President Biden recently proposed forgiving $10,000-$20,000 in student debt for those eligible, but a court blocked the plan. Biden has also proposed making community college free, but has not yet been able to pass this through Congress.
ARTICLE: PAUL MURDOCH
MANAGING EDITOR: CARSON CHOATE
PHOTO CREDITS: FORBES
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