SENATE HELP COMMITTEE HOLDS HEARING ON COLLEGE COST AND VALUE TRANSPARENCY
The Senate Health, Education, Labor, and Pensions (HELP) Committee held a hearing on college cost and value transparency, focusing on financial aid communication and informed borrowing. Committee Chair Senator Bill Cassidy (R-LA) called for passage of the College Transparency Act, improved net price calculators and standardized financial aid offers to help students make more informed decisions. Witnesses agreed on the need for transparency but differed on solutions--Brenda Hicks, director of financial aid at Southwestern College, cautioned that a “uniform financial aid offer may be efficient, but it won’t be effective,” emphasizing the need for flexibility in communicating aid to diverse student populations. Others highlighted that while transparency is important, affordability and the declining purchasing power of the Pell Grant remain the larger challenges to college access.