The Net Price Calculator Improvement Act updates federal requirements for how colleges display and operate their cost-estimate calculators for prospective students. Under the bill, colleges must make their net price calculators more visible and user-friendly by prominently posting them on relevant websites, displaying clearer cost breakdowns by income level, and showing detailed information about grants, loans, and military education benefits. The legislation also requires calculators to protect student privacy by clearly marking contact information as optional and prohibiting institutions from selling any personal data users provide. Additionally, the bill authorizes the Department of Education to develop a universal net price calculator that allows students to compare costs across multiple colleges with a single application, though this calculator must undergo consumer testing with students, families, and counselors before launch. Colleges have one year from the bill's enactment to meet these new standards, and the Education Department must report to Congress within a year on its efforts to promote awareness of net price calculators, particularly among middle and high school students from low-income families.
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