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S1557119th CongressWALLET

Net Price Calculator Improvement Act

Sponsored By: Senator Grassley, Chuck [R-IA]

Introduced

Summary

standardized net price calculators would require colleges to show clear, comparable cost and aid estimates and would let the Education Department create a tested, universal calculator while protecting user data.

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  • Students and families would see a prominently linked calculator with net prices by income, an individual net price, detailed cost-of-attendance breakdowns, total estimated cost to complete a program, and grant aid by source and year. The display would use data no older than two academic years.
  • Veterans would get either an estimate showing how their education benefits are treated or a clear explanation and link if benefits are not estimated.
  • Colleges would have to mark required questions versus optional contact fields and would be prohibited from selling or sharing personally identifiable responses collected by the calculator.
  • The Department of Education could build a single universal calculator that returns net prices for any covered institution from one set of questions. The tool would undergo up to six months of consumer testing with students, families, institutions, counselors, and nonprofits and require a report to Congress within three months after testing concludes.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Clear college net price tools

If enacted, this bill would require colleges' net price calculators to meet new minimum rules within 1 year. Calculators must use data no earlier than two academic years before the most recent year. They must show a clear net price, detailed cost breakdowns, grant aid estimates by year, and a privacy statement. Schools may not sell or share personally identifiable information from the calculators. The bill would let the Education Department build a single, branded universal calculator that can give net prices for any school. The Department must test the universal tool with students, families, counselors, institutions, and consumer groups for up to six months and report results to Congress within three months after testing.

Sponsors & CoSponsors

Sponsor

Grassley, Chuck [R-IA]

IA • R

Cosponsors

  • Sen. Smith, Tina [D-MN]

    MN • D

    Sponsored 5/1/2025

  • Sen. Hassan, Margaret Wood [D-NH]

    NH • D

    Sponsored 5/5/2025

  • Sen. Warnock, Raphael G. [D-GA]

    GA • D

    Sponsored 12/10/2025

Roll Call Votes

No roll call votes available for this bill.

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