Truth in Tuition Act of 2023

The Truth in Tuition Act of 2023 requires colleges and universities to provide students with clear, long-term cost information before enrollment. Specifically, institutions must offer either a multi-year tuition and fee schedule or a single-year schedule plus a nonbinding estimate of total net costs (after financial aid) for the full program duration, assuming stable family income. If using the single-year option, schools must also share historical data on how accurate their past estimates were. This applies to all undergraduate and graduate programs and takes effect 120 days after enactment. The law aims to make tuition costs more transparent for students and families.