‘‘(A) stating that the estimate— 
‘‘(i) does not represent a final deter-
mination, or actual award, of financial as-
sistance; 
‘‘(ii) shall not be binding on the Sec-
retary, an institution of higher education, 
or a State; and 
‘‘(iii) may change; 
‘‘(B) stating that an individual must com-
plete the Free Application for Federal Student 
Aid described in section 483 in order to be eligi-
ble for, and receive, an actual financial aid 
award that includes Federal grant, loan, or 
work-study assistance under title IV; 
‘‘(C) including a link to the website of the 
Department that allows individuals to access the 
Free Application for Federal Student Aid de-
scribed in section 483; and 
‘‘(D) explaining that the net price estimate 
calculated for an individual using the Universal 
Net Price Calculator under this subsection may 
differ from the net price calculated for such indi-
vidual using an institution’s net price calculator 
due to differences in data or methodology.’’. 
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(b) CONFORMING AMENDMENT.—Section 132 of the 
Higher Education Act of 1965 (20 U.S.C. 1015a) is further 
amended by redesignating subsections (k) and (l) as sub-
sections (d) and (e), respectively. 
SEC. 3. OTHER AMENDMENTS. 
(a) COST
OF
ATTENDANCE
OF
A
PROGRAM
OF 
STUDY.— 
(1) DETERMINATION OF COST OF ATTENDANCE 
OF A PROGRAM OF STUDY.— 
(A) IN
GENERAL.—Section 472(a) of the 
Higher Education Act of 1965 (20 U.S.C. 
1087ll(a)) is amended— 
(i) in paragraph (1), by striking ‘‘car-
rying the same academic workload’’ and in-
serting ‘‘enrolled in the same program of 
study and carrying the same academic 
workload’’; 
(ii) in paragraph (2), by striking 
‘‘same course of study’’ and inserting ‘‘same 
program of study’’; and 
(iii) in paragraph (14), by striking 
‘‘program’’ and inserting ‘‘program of 
study’’. 
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(2) DISCLOSURE.—Section 472(c) of the Higher 
Education Act of 1965 (20 U.S.C. 1087ll(c)) is 
amended— 
(A) by inserting ‘‘of each program of study 
at the institution’’ after ‘‘cost of attendance’’; 
and 
(B) by striking ‘‘of the institution’’ and in-
serting ‘‘of such programs of study at the institu-
tion’’. 
(b) PROGRAM OF STUDY DEFINED.—Section 103 of the 
Higher Education Act of 1965 (20 U.S.C. 1003) is amend-
ed— 
(1) by redesignating paragraphs (15) through 
(24) as paragraphs (16) through (25), respectively; 
and 
(2) by inserting after paragraph (14) the fol-
lowing new paragraph: 
‘‘(15) PROGRAM OF STUDY DEFINED.— 
‘‘(A) IN GENERAL.—The term ‘program of 
study’— 
‘‘(i) means an eligible program at an 
institution of higher education that is clas-
sified by a combination of— 
‘‘(I) one or more CIP codes; and 
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‘‘(II) one credential level, deter-
mined by the credential awarded upon 
completion of the program; and 
‘‘(ii) does not include a program of 
study abroad. 
‘‘(B) CIP
CODE.—The term ‘CIP code’ 
means the six-digit taxonomic identification code 
assigned by an institution of higher education to 
a specific program of study at the institution, 
determined by the institution of higher education 
in accordance with the Classification of Instruc-
tional Programs published by the National Cen-
ter for Education Statistics. 
‘‘(C) CREDENTIAL LEVEL.— 
‘‘(i) IN GENERAL.—The term ‘creden-
tial level’ means the level of the degree or 
other credential awarded by an institution 
of higher education to students who com-
plete a program of study of the institution. 
Each degree or other credential awarded by 
an institution shall be categorized by the in-
stitution as either undergraduate credential 
level or graduate credential level. 
‘‘(ii) UNDERGRADUATE CREDENTIAL.— 
When used with respect to a credential or 
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credential level, the term ‘undergraduate 
credential’ includes credentials such as an 
undergraduate certificate, an associate de-
gree, a bachelor’s degree, and a post-bacca-
laureate 
certificate 
(including 
the 
coursework specified in paragraphs (3)(B) 
and (4)(B) of section 484(b)). 
‘‘(iii) GRADUATE CREDENTIAL.—When 
used with respect to a credential or creden-
tial level, the term ‘graduate credential’ in-
cludes credentials such as a master’s degree, 
a doctoral degree, a professional degree (as 
defined under section 668.2 of title 34, Code 
of Federal Regulations), and a postgraduate 
certificate.’’. 
(c) ELIMINATION OF EARLY ESTIMATOR TOOL.—Para-
graph (4) of section 485E(b) of the Higher Education Act 
of 1965 (20 U.S.C. 1092f(b)) is repealed. 
(d) CONFORMING AMENDMENTS.— 
(1) HIGHER
EDUCATION
ACT
OF
1965.—The 
Higher Education Act of 1965 (20 U.S.C. 1001 et 
seq.), as amended by this Act, is further amended— 
(A) by striking ‘‘College Navigator’’ each 
place it appears and inserting ‘‘College Score-
card’’; and 
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(B) in the header of section 487(d)(3), by 
striking ‘‘COLLEGE
NAVIGATOR’’ and inserting 
‘‘COLLEGE SCORECARD’’. 
(2) OTHER REFERENCES.—Any reference in any 
law (other than the Higher Education Act of 1965 (20 
U.S.C. 1001 et seq.)), regulation, document, record, or 
other paper of the United States to the College Navi-
gator website shall be considered to be a reference to 
the College Scorecard website. 
SEC. 4. EFFECTIVE DATE. 
This Act and the amendments made by this Act shall 
take effect on July 1, 2027, and shall apply with respect 
to award year 2027–2028 and each subsequent award year, 
as determined under the Higher Education Act of 1965. 
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