Foxx Calls Out Colleges for Misleading Students about Cost of College
WASHINGTON, D.C., December 21, 2022
Today, on the House floor, Education and Labor Committee Republican Leader Virginia Foxx (R-NC) blasted postsecondary institutions for giving students misleading and false information about the cost of college.
Republican Leader Foxx’s Remarks:
“Our postsecondary education system is broken.
“The Government Accountability Office recently released a troubling report blasting colleges for giving prospective students misleading information on financial aid letters. The report found that only 9 percent of college financial aid letters correctly calculated students' out-of-pocket costs—and nearly half misled students by blurring the lines between grants and loans, in some cases by tens of thousands of dollars. This lack of transparency is inexcusable and outright shameful.
“Students and families make one of the most critical financial decisions of their lives when they accept their financial aid offer. Schools should not hide the true cost of college from them.
“That is why Rep. Lisa McClain and I introduced the College Cost Transparency and Student Protection Act—to ensure that aid offers are clear, so student and parent choice are maximized.”
Watch the full video here.