An Act To Ensure Transparency in College Costs
Sec. 1. 20-A MRSA §10014 is enacted to read:
§ 10014. Student fees; financial aid offer form
A postsecondary institution must identify and publish on a publicly accessible website all fees assessable to students.
The commissioner shall adopt rules to implement this subsection. Rules adopted pursuant to this subsection are routine technical rules as defined in Title 5, chapter 375, subchapter 2-A.
This bill prohibits a postsecondary institution from assessing a student fees unless the institution uses the standardized financial aid offer form developed by the Commissioner of Education. The bill directs the Commissioner of Education to develop a standard format for written and electronic financial aid offers to students enrolled or accepted for enrollment in a postsecondary institution. The bill specifies that the standardized financial aid offer form must clearly identify each student fee to be paid to the postsecondary institution.