Improving Financial Aid Offers for Students Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 4435 Introduced in Senate (IS)] <DOC> 119th CONGRESS 2d Session S. 4435 To establish requirements for financial aid offers made by institutions of higher education, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES April 29, 2026 Mr. Cassidy (for himself and Mr. Grassley) introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and Pensions _______________________________________________________________________ A BILL To establish requirements for financial aid offers made by institutions of higher education, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Improving Financial Aid Offers for Students Act''. SEC. 2. FINANCIAL AID OFFER REQUIREMENTS. Section 484 of the Higher Education Opportunity Act (20 U.S.C. 1092 note) is amended to read as follows: ``SEC. 484. FINANCIAL AID OFFER REQUIREMENTS. ``(a) Financial Aid Offer.--In this section, the term `financial aid offer' means a document or electronic notification that is provided or made available by a postsecondary educational institution to a student (or prospective student) that outlines the amounts and details of the financial aid being offered to the student (or prospective student), which may include scholarships, grants, loans, employment, or other forms of financial assistance, to pay for expenses related to attending the institution. ``(b) Standard Terminology and Model Form.--The Secretary of Education, in consultation with the heads of relevant Federal agencies and in accordance with subsections (g) and (h), shall develop standard terminology and a model form for financial aid offers based on recommendations from representatives of students, vetera