Act Requirements
Student Fee Transparency (Section 2004-H)
Requirement Summary
Institutions of Higher Education (IHEs) must post online every mandatory fee in advance of the start of the academic term for which the fee will be charged and included on a tuition bill. The posting must include the purpose of the fee and a description of how it will be used.
| Requirement | Information/Link |
|---|---|
| Post online every mandatory fee in advance of the start of the academic term for which the fee will be charged and included on a tuition bill. | - Undergraduate Tuition |
| Post online from the prior academic year the total amount of mandatory fees collected with a detailed description / use of each. | - Total Fee Amounts -Fee Definitions |
Higher Education Cost Transparency (Section 2005-H)
Requirement Summary
Institutions of Higher Education (IHEs) must provide prospective students with extensive cost and financial aid information as part of the admission or financial aid offer process.
| Requirement | Information/Link |
|---|---|
| Provide prospective students with extensive cost and financial aid information as part of the admission or financial aid offer process. | - Financial Aid Programs & Disclosures - College Costs - Completing the FAFSA |
| Tuition for the first year, a list of fees (mandatory and optional), a breakdown of room and meal options, books and supplies costs. | - Undergraduate Tuition |
| Estimated financial aid including scholarships, grants, and loans and whether each needs to be repaid. | - Scholarships - Grants - Student Loans |
| Student employment options. | - Student employment |
| A net cost of attendance (costs minus scholarships and grants) and an estimate of the total cost of attendance for subsequent years. | - Estimate My Costs - Cost of Attendance |
| Information on whether or not financial aid is renewable for each year, and the requirements in subsequent years to renew. | - Scholarships - Federal SAP - PA State Grant |
| A history of the previous academic year’s tuition and future tuition/fee estimates for each year for the student to complete their major. | - Historical & Estimate Future Costs |
Exit Counseling (Section 2006-H)
Requirement Summary
Institutions of Higher Education (IHEs) must provide financial aid exit counseling to students at the end of their final academic term, unless a student elects not to participate. Federal Student Aid (FSA) Federal Loan Exit Counseling does not supplant this requirement. Counseling may be in-person or online, and IHEs may partner with the Pennsylvania Higher Education Assistance Agency or a similar entity.
| Requirement | Information/Link |
|---|---|
| A list of all available federal and state programs including, if available, related websites and contact information that may assist with payments, reductions, or forgiveness of student loans. | - Federal Payments - Federal Reductions - Federal Forgiveness |
| All available repayment options on student loans known to the IHE and, if available, a link to an online student loan repayment calculator. | - Repayment Options - Student Loan Simulator |
| When student's loan repayment begins and information on delaying repayment. | - Beginning & Delaying Repayments |
| If a student withdraws, they must receive the same information. If counseling cannot occur, the packet of information must be mailed to the student at their last known address. | financialaid@lafayette.edu |