US HB6502

Requires all colleges receiving federal financial aid to use standardized formatting and terminology on financial aid offer forms beginning July 1, 2029, including clear distinctions between grants, scholarships, and loans

Mandates the Secretary of Education establish consumer testing within 9 months of enactment and publish final formatting requirements by July 1, 2028, with input from students, families, institutions, and counselors

Financial aid offers must include specific information: cost of attendance, grants/scholarships, net price calculations, loan details with interest rates and repayment disclosures, and work-study opportunities

Prohibits institutions from treating a student's confirmation of receipt of a financial aid offer as acceptance or rejection of the offer

Requires institutions to provide supplemental disclosures about aid renewability conditions, how outside scholarships affect awards, and links to Department of Education resources including the College Scorecard