Debt-Free College Act of 2023

The Debt-Free College Act of 2023 establishes a State-Federal partnership program to provide debt-free college for eligible students at in-state public institutions of higher education. Participating states would cover students' unmet financial need (the difference between cost of attendance and available aid), while maintaining or increasing their investment in public higher education. The bill requires states to cap tuition increases (based on inflation), maintain need-based aid programs, and implement student success initiatives to support low-income and underserved students. It also creates a separate grant program for HBCUs and MSIs to provide similar debt-free college opportunities, and expands federal financial aid eligibility to include "Dreamer students" (DACA recipients).