WASHINGTON – Today, the Education and the Workforce Committee passed the College Cost Reduction Act, which includes an amendment by Rep. Burgess Owens (UT-04), chair of the Higher Education and Workforce Development Subcommittee. Owens’ amendment clarifies the calculation of reimbursement payments, improves college transparency provisions, and changes the funding structure of the PROMISE program.

“The College Cost Reduction Act is a game-changer for addressing skyrocketing college costs, prioritizing outcomes over inputs, and holding institutions accountable,” said Rep. Owens. “I’m proud that my amendment was included to further enhance the legislation by refining reimbursement calculations, bolstering college transparency, and adjusting PROMISE program funding. Together, these reforms modernize postsecondary education, benefiting both students and taxpayers.”

The College Cost and Reduction Act: 

• Ensures clear, accessible, and personalized information about costs and return on investment is available to prospective students and families.
• Holds institutions financially responsible for overpriced degrees that leave students with unaffordable debt. 
• Funds colleges based on student outcomes rather than excessive regulations that further increase costs to families.  

Click here for bill text. 

Click here for a bill summary.