Washington, D.C. –  Congresswoman Elise Stefanik has cosponsored the Net Price Calculator Improvement Act, a bipartisan bill to require colleges to have an easily accessible Net Price Calculator posted on their website alongside information about financial aid and tuition. Although colleges are already required to have a Net Price Calculator, many of them call it by a different name and place it in different parts of their websites, making it difficult for prospective students to locate.

Additionally, the Net Price Calculator must will be required to provide:

•           The student’s estimated net price for attending school

•           The student’s estimated tuition and fees

•           The average costs of room and board, books and supplies, and other annual costs

•           Estimated financial aid for the student

“Increasing accessibility and affordability in higher education has been one of my top priorities in Congress,” said Congresswoman Stefanik. “Prospective students deserve to know their estimated financial responsibility before they make a college decision. The Net Price Calculator is an invaluable tool to ensure students are equipped to make sound financial decisions, while holding colleges publicly accountable for the growing cost of a degree. This fix to the system will increase transparency by providing students with the facts they need to know before investing in higher education.”

Additionally, this legislation directs the Secretary of Education to conduct consumer testing to improve the universal net price calculator on the Department of Education’s website.