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Act 69
College Affordability and Transparency Act (Act 69 of 2024)
On July 17, 2024, Pennsylvania enacted new legislation aimed at increasing financial transparency in higher education. The College Affordability and Transparency Act (Act 69 of 2024) requires colleges and universities to provide students with more comprehensive financial information. Additionally, the law establishes mandatory financial aid exit counseling for students completing their final term.
Student Fee Transparency
Student Fee Transparency (Section 2004-H)
Under the new transparency requirements, colleges and universities must now make all mandatory student fees available on their websites before each academic term begins. This online information needs to explain why each fee exists and detail how the collected funds will be used. This disclosure allows students to understand their financial obligations before the fees are assessed.
Higher Education Cost Transparency
Higher Education Cost Transparency (Section 2005-H)
In order for students to make fully informed decisions when selecting an institution of higher education, they need to be aware of the costs associated with attending that institution for the duration of their program. Section 2005-H requires each institution of higher education to provide the following information to prospective students:
Exit Counseling
Exit Counseling (Section 2006-H)
Institutions must provide financial aid exit counseling to students at the end of their final academic term, unless a student elects not to participate. Federal Student Aid (FSA) Federal Loan Exit Counseling does not supplant this requirement. Counseling may be in-person or online, and IHEs may partner with the Pennsylvania Higher Education Assistance Agency or a similar entity.