Section 20-2005-H - Higher education cost transparency(a)General rule.--An institution of higher education shall provide the following information to a prospective student as part of the student's offer of enrollment at the institution of higher education or as part of the student's financial aid offer: (1) An estimate of the total cost of attendance, including:(i) Tuition for the student's first academic year.(ii) A list of each fee charged to a student in the student's first academic year. The fees shall include both mandatory and optional fees.(iii) A breakdown of all room and board options and the costs associated with each option for the student's first academic year.(2) An estimate of the financial aid offered, as available, by the institution of higher education, including, but not limited to:(i) All grants or scholarships that do not require repayment.(ii) Student loans that require repayment.(iii) Student employment options.(3) An estimate of the net cost that subtracts any scholarships or grants being offered from the estimated total cost of attendance.(4) An estimate of the total cost of attendance for subsequent years. The estimate may be provided through easily accessible electronic means and shall include: (i) Information regarding whether or not the financial aid is being offered only for the upcoming academic year or if it is renewable for subsequent academic years. If the financial aid is renewable for subsequent academic years, the information shall include any requirements that must be met in order for renewal of the financial aid.(ii) A history of previous academic year's tuition.(iii) An estimate of the total tuition that the student will be charged in each academic year necessary for the student to receive a degree in the student's major.(iv) An estimate of the total amount of fees charged to a student in each academic year necessary for the student to receive a degree in the student's major.(b) Disclosure to prospective student.--An institution of higher education shall use easily understood terms and clearly identify each piece of financial aid that a student must repay.(c) Public availability.--Each institution of higher education shall make available on its publicly accessible Internet website an estimate of all tuition, fees and room and board that may be charged in an academic year. Added by P.L. (number not assigned at time of publication) 2024 No. 69,§ 8, eff. 7/17/2024.