HR-6951 : Still Just a Bill

The College Cost Reduction Act, H.R. 6951, aims to lower the cost of postsecondary education for students and families through increased transparency, access, accountability, and student success initiatives. Key provisions include:

• Transparency: Standardizes financial aid offers to help students better understand college costs and financial aid eligibility and requires enhanced data on the College Scorecard website and the creation of a postsecondary student-level data system.
• Access and Affordability: Modifies financial need calculations, alters the Federal Pell Grant program, terminates certain campus-based aid programs, introduces performance-based PROMISE grants, and changes loan limits and repayment plans. Additionally, it repeals origination fees on federal student loans.
• Accountability and Student Success: Requires institutions to reimburse the Department of Education for students who do not repay their loans, provides regulatory relief to institutions, limits the Secretary of Education's authority to propose new regulations, and implements postsecondary student success grants. It also addresses accrediting agency recognition standards and the transparent transfer of college credits.

The bill seeks to ensure that students, institutions, and taxpayers receive a financial return on investments in postsecondary education, with a focus on value-added earnings.