NJ SR37

Urges Congress and the President to enact the "College Cost Transparency and Student Protection Act" (H.R. 9429), which would standardize financial aid offer terminology and require institutions to clearly itemize direct and indirect costs of attendance.

Responds to a U.S. Government Accountability Office report finding that 91% of higher education institutions understate net price in aid offers, 55% fail to itemize key costs, and 24% do not provide total cost of attendance.

Would require publication of a College Scorecard showing average cost of attendance and net price for each institution to help students compare options.

Notes that unclear financial aid information leads to excessive student loan borrowing, which impacts homeownership rates, family formation, and business creation.

Aligns with New Jersey's existing financial aid "shopping sheet" law (P.L.2019, c.201) requiring transparency in college cost disclosures.