COLLEGE Act

S 3355 (COLLEGE Act) requires the wealthiest U.S. universities - those with endowment funds over $1 billion - to cover a portion of full-time students' costs based on their endowment size: 25% for $1-5 billion, 50% for $5-10 billion, and 75% for over $10 billion. These institutions must also submit annual reports detailing tuition costs, endowment growth (from donations and investments), and cost increases. The bill adds new data requirements for universities to report graduation rates, graduate employment, median wages, and student debt by academic program. It applies only to institutions with endowment funds exceeding $1 billion, directly affecting a small group of elite universities.