“It would provide Congress with much needed information, the same information that goes to [university] trustees, so it is not in any way a significant burden,” says Rep. Peter Welch,D-Vt., author of the plan.Welch originally wanted a requirement for colleges to spend at least 5 percent of their endowments annually, but he withdrew that plan after strong objections in the higher education community.
• Cost control and monitoring: The House stopped short of implementing cost controls on colleges, but those with large annual percentage increases would have to explain their reasons. The bill would require themto create task forces to examine reasons for the price hikes; schools also would have to send reports to the Department of Education about reasons behind the increases. The provision is “a major step to curb tuition increases,” Pendas says.
Members of Congress fromboth parties are “frustrated” over skyrocketing tuition costs, says Rep.Ric Keller,R-Fla., the top Republican on the House higher education subcommittee. But lawmakers “are hesitant to implement any sort of cost control or micromanaging of these universities,” he says. The bill’s provisions offer a middle ground, with greater monitoring of the issue.
Another provision in the House bill would require colleges to give prospective students information about their tuition rates over multiple years.
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