Truth in Tuition Act of 2016
This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to modify eligibility requirements for an institution of higher education (IHE) to participate in federal student aid programs.
Specifically, the bill requires an IHE to provide to an admitted graduate or undergraduate student: (1) a multi-year tuition and fee schedule; or (2) a single-year tuition and fee schedule, and a nonbinding, multi-year estimate of net costs after financial aid is awarded.
An IHE that provides a single-year tuition and fee schedule must include, in its multi-year estimate of net costs, the average difference between previous year estimates and actual net costs.
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