Virginia Foxx: “Our postsecondary education system is broken. The Government Accountability Office recently released the troubling…”

“Our postsecondary education system is broken. The Government Accountability Office recently released the troubling report blasting colleges for giving perspective 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 Representative 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. ____________________”