Problem
Students need better information before they borrow to pay for college. The Department of Education provides a model institutional financial aid offer form, but there is no mandatory standardized letter that all schools must use. As a result, different schools report costs and aid in different ways, making it difficult to make comparisons across schools.
Solution
Require the standardization of financial aid award letters.
Date of Proposal : February 4, 2026
Beth Akers, “Protecting Students and Taxpayers: Strengthening Accountability and Value in Higher Education,” testimony before the US House Committee on Education and Workforce, Subcommittee on Higher Education and Workforce Development, February 4, 2026, Read more.
Student Financial Clarity Act of 2025, H.R. 6498, 119th Cong., Read more.