port provides consumer-friendly information, 
the Secretary shall convene an advisory group 
of students, parents, and college officials to 
help determine the information that shall be in-
cluded in the report. 
‘‘(2) DATA
DISSEMINATION.—The Secretary 
shall make publicly available the data collected pur-
suant to this section, including an institution’s net 
price tuition index as calculated in accordance with 
subsection (e). Such data shall be made available in 
a manner that permits the review and comparison of 
data submissions of individual institutions of higher 
education. Such data shall be presented in a form 
that is easily accessible and understandable and al-
lows parents and students to make informed deci-
sions based on the average prices for full-time un-
dergraduate students and the institution’s rate of in-
crease in the sticker price, total price of attendance, 
net tuition price, and net access price. 
‘‘(3) WEBSITE ENHANCEMENT.—
‘‘(A) WEBSITE INFORMATION.—In order to 
further enhance public knowledge and under-
standing of college affordability, the Secretary 
shall modify the college opportunities on line 
(COOL) web site. The goal of such changes
shall be to make the website the single best 
source of information about applying to and 
paying for a postsecondary education. Such 
changes shall make the website more user 
friendly and facilitate the comparison of mul-
tiple institutions at the same time. Such website 
shall provide detailed tuition and student aid 
data for each institution (including data from 
the annual college affordability in America re-
port). As part of improving the website, the 
Secretary shall establish an advisory board of 
students and parents to guide the redesign. The 
college price calculator required by paragraph 
(4) shall be included on the COOL website. 
‘‘(B) AVAILABILITY IN OTHER FORM.—In 
addition, the Secretary shall publish all of the 
institutional information found on the COOL 
website, minus the college price calculator, and 
instruct all local educational agencies to notify 
all their secondary schools of the publication of 
the COOL web site, both on-line and in-print, 
and of the steps necessary to procure such in-
formation both on-line and in-print. 
‘‘(4) COLLEGE PRICE CALCULATOR.—
‘‘(A) 
ESTABLISHMENT.—The 
Secretary 
shall establish a system for reporting to pro-
spective students and families on the net tuition 
price of institutions of higher education. Using 
the most recent data available, the Secretary 
shall make available the amount of aid typically 
granted for students based on family income 
and college attended. Such information shall be 
made available in the form of a web site price 
calculator that permits students to be able to 
enter an institution of higher education and 
their family income and be presented the sticker 
price, net tuition price, and net access price for 
students in their income bracket in order to de-
termine the approximate cost of attending such 
a school. The calculator shall include a clear 
disclaimer that financial aid decisions are made 
on a case-by-case basis and that the included 
calculations are based on previous years’ data 
and can therefore serve only as general guide-
lines for the financial aid that a student may 
expect to receive. 
‘‘(B) INFORMATION DISTRIBUTION BY IN-
STITUTIONS.—Each institution of higher edu-
cation shall make available its sticker price,
total price of attendance, net tuition price, and 
net access price and list examples of what fami-
lies in each of the quartile income brackets 
might be expected to pay in the net tuition 
price for the most recent academic year. This 
information shall be provided in written form 
and distributed to all students and applicants 
and made widely available to the public. 
‘‘(e) NET TUITION PRICE INDEX.—
‘‘(1) IN GENERAL.—The Secretary shall, on the 
basis of the data submitted under subsection (a), 
calculate a net tuition price index for each institu-
tion of higher education submitting such data and 
shall make the index available in accordance with 
subsection (b) as soon as operationally possible on 
the Department’s college opportunity on line 
(COOL) website. 
‘‘(2) CALCULATION OF INDEX.—The net tuition 
price index shall be equal to the percentage increase 
in the net tuition price charged for a first-time, full-
time, full-year undergraduate student between a pre-
ceding academic year and the most recent academic 
year for which satisfactory data are available. 
‘‘(f) DEFINITIONS.—For the purposes of this section: