Public Act 101-0093 will shed light on the high sticker price on college tuition
Springfield…..On Monday, the Governor signed into law House Bill 2512 sponsored by State Representative Deanne Mazzochi (R-Elmhurst). The legislation targets the high sticker price of college tuition and is designed to shine light on the murky web of financial aid grants, tuition waivers and exchanges that hide the potential discounts and conceal the true cost of a college education at Illinois’ four-year public intuitions.
Mazzochi railed against the “smoke and mirrors finance games students and parents have to sort out when it comes to one of the biggest decisions they will make – what school to choose. This bill helps compare apples to apples for financial investments in higher education in Illinois. Parents and students alike deserve complete transparency from the start. When our Illinois public universities start handing out glossy brochures implying that a bottomless pit of financial aid and grants are available, the State’s Board of Higher Education will report the fine print so that no-one is misled.”
Mazzochi noted the practice of schools sending “financial aid letters that arrive in the mail with tens of thousands of dollars in future debt payments, but no meaningful grant money. Because state universities are now required to disclose not just how much aid they offer, but how they distribute it to degree-seeking students those students will now have a more realistic picture of the financial costs and burdens they face; how likely they are to get true grant money; and how far that grant money will go.”
Mazzochi, who previously served as the Chairman of the College of DuPage, emphasized that students need a more accurate picture of the true cost of education at the time they make their college commitments. “We saw at the College of DuPage that parents and students are worried about college affordability, and worked hard to deliver high value at comparatively low cost. This should be a statewide goal; we don’t want students to be put in a decision where they have to take on needless loans that will drive them into debt for decades in order to finish their degree. I have other bills seeking to make all of our post-secondary education programs more affordable, so that parents and students can get the most value for their investment in education.”
In the Senate, the chief sponsor of House Bill 2512 was State Sen. John Curran of Downers Grove.