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 
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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 
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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: 
‘‘(1) NET ACCESS PRICE.—The term ‘net access 
price’ means the average total price of attendance 
for full-time undergraduate students, minus the av-
erage grants, loans, and work-study provided to such 
students, for any academic year. 
‘‘(2) NET TUITION PRICE.—The term ‘net tui-
tion price’ means the average tuition and fees 
charged to full-time undergraduate students, minus 
the average grants provided to such students, for 
any academic year. 
‘‘(3) STICKER PRICE.—The term ‘sticker price’ 
means the average tuition and fees charged to full- 
time undergraduate students by an institution of 
higher education for any academic year. 
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‘‘(4) TOTAL
PRICE
OF
ATTENDANCE.—The 
term ‘total price of attendance’ means the average 
tuition and fees charged to full-time undergraduate 
students, as well as the average of the other ex-
penses of such students related to obtaining a higher 
education, including housing (room and board if the 
student lives on campus, or rent or related housing 
costs if the student does not live on campus), books, 
transportation, for any academic year. 
‘‘(5) TUITION.—The term ‘tuition’ means the 
average price of or payment for actual instruction of 
full-time undergraduate students at an institution of 
higher education, for any academic year.’’. 
SEC. 6. PELL PLUS. 
Subpart 1 of part A of title IV is amended by insert-
ing after section 401A (20 U.S.C. 1070a–1) the following 
new section: 
‘‘SEC. 401B. INCENTIVES AND REWARDS: PELL PLUS. 
‘‘(a) REWARDS FOR LOW TUITION.—For any institu-
tion of higher education that, for academic year 2008– 
2009 or any succeeding academic year, such institution’s 
annual net tuition price increase (expressed as a percent-
age) for the most recent academic year for which satisfac-
tory data is available is equal to or less than the percent-
age change in the higher education price index for such 
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academic year, the Secretary shall, notwithstanding any 
other provision of the law, provide such institution an 
amount sufficient to provide a 25 percent increase under 
subpart 1 of part A of title IV to each Pell Grant recipient 
attending such institution for the next award year begin-
ning after the date of such determination. Each such insti-
tution shall distribute any amounts received under this 
subsection among such Pell Grant recipients by increasing 
the amount of their Pell Grant awards by 25 percent. 
‘‘(b) REWARDS FOR GUARANTEED TUITION.— 
‘‘(1) BONUS.—For each institution of higher 
education that the Secretary of Education deter-
mines complies with the requirements of paragraph 
(2) or paragraph (3) of this subsection, the Sec-
retary shall, notwithstanding any other provision of 
the law, provide such institution an amount suffi-
cient to provide a 10 percent increase under subpart 
1 of part A of title IV to each Pell Grant recipient 
attending such institution for the next award year 
beginning after the date of such determination. Each 
such institution shall distribute any amounts re-
ceived under this subsection among such Pell Grant 
recipients by increasing the amount of their Pell 
Grant awards by 10 percent. 
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‘‘(2) 4-YEAR INSTITUTIONS.—An institution of 
higher education that provides a program of instruc-
tion for which it awards a bachelor’s degree complies 
with the requirements of this paragraph if such in-
stitution guarantees that for any academic year be-
ginning on or after July 1, 2008, and for each of the 
4 succeeding continuous academic years, the net tui-
tion price charged to an undergraduate student will 
not exceed— 
‘‘(A) the amount that the student was 
charged for an academic year at the time he or 
she first enrolled in the institution of higher 
education, plus 
‘‘(B) the product of the percentage in-
crease in the higher education price index for 
the prior academic year, or the most recent 
prior academic year for which data is available, 
multiplied by the amount determined under 
subparagraph (A). 
‘‘(3) LESS-THAN
4-YEAR
INSTITUTIONS.—An 
institution of higher education that does not provide 
a program of instruction for which it awards a bach-
elor’s degree complies with the requirements of this 
paragraph if such institution guarantees that for 
any academic year (or the equivalent) beginning on 
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or after July 1, 2008, and for each of the 1.5 suc-
ceeding continuous academic years, the net tuition 
price charged to an undergraduate student will not 
exceed— 
‘‘(A) the amount that the student was 
charged for an academic year at the time he or 
she first enrolled in the institution of higher 
education, plus 
‘‘(B) the product of the percentage in-
crease in the higher education price index for 
the prior academic year, or the most recent 
prior academic year for which data is available, 
multiplied by the amount determined under 
subparagraph (A). 
‘‘(c) MAINTAINING AFFORDABLE TUITION.—For any 
institution of higher education whose increase in the an-
nual net tuition price (expressed as a percentage), for the 
most recent academic year for which satisfactory data is 
available, is greater than the percentage increase in the 
higher education price index for such academic year, the 
Secretary shall require such institution to submit to the 
Secretary the following information, within 6 months of 
such determination: 
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‘‘(1) a detailed report on the exact causes for 
the net tuition price increase that outlines revenues 
and expenditures; and 
‘‘(2) cost containment strategies to lower net 
tuition prices. 
‘‘(d) DEFINITIONS.— 
‘‘(1) NET TUITION PRICE.—The term ‘net tui-
tion price’ has the same meaning as provided in sec-
tion 133(f). 
‘‘(2) HIGHER EDUCATION PRICE INDEX.—The 
term ‘higher education price index’ means a statis-
tical measure of change over time in the prices of a 
fixed market basket of goods and services purchased 
by colleges and universities through current fund 
educational and general expenditures (excluding ex-
penditures for research), as developed by the Bureau 
of Labor Statistics pursuant to section 131(c)(4).’’. 
SEC. 7. COOPERATIVE EDUCATION REWARDS FOR INSTITU-
TIONS THAT RESTRAIN TUITION INCREASES. 
The Higher Education Act of 1965 (20 U.S.C. 1101 
et seq.) is amended by adding at the end the following 
title: 
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‘‘TITLE VIII—COOPERATIVE EDU-
CATION REWARDS FOR INSTI-
TUTIONS 
THAT 
RESTRAIN 
TUITION INCREASES 
‘‘SEC. 801. STATEMENT OF PURPOSE; ELIGIBLE INSTITU-
TIONS. 
‘‘(a) PURPOSE.—It is the purpose of this title to 
award grants to institutions of higher education or com-
binations of such institutions that have restrained their 
net tuition price increases in order to encourage such insti-
tutions to develop and make available to as many of their 
students as possible work experience that will aid such stu-
dents in future careers and will enable such students to 
support themselves financially while in school. 
‘‘(b) ELIGIBLE INSTITUTIONS.—An institution of 
higher education shall be eligible to apply for a grant 
under this title if such institution, and a combination of 
such institutions shall be eligible to apply for such a grant 
if each institution in such combination— 
‘‘(1) for the academic year for which the insti-
tution is applying, keeps such institution’s annual 
net tuition price increase (expressed as a percent-
age) for the most recent academic year for which 
satisfactory data is available equal to or less than 
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the percentage change in the higher education price 
index for such year; and 
‘‘(2) for such academic year, provides the guar-
antee required by paragraph (2) or (3) of section 
401A(b). 
‘‘(c) DEFINITIONS.— 
‘‘(1) COOPERATIVE EDUCATION.—For the pur-
pose of this title the term ‘cooperative education’ 
means the provision of alternating or parallel periods 
of academic study and public or private employment 
in order to give students work experiences related to 
their academic or occupational objectives and an op-
portunity to earn the funds necessary for continuing 
and completing their education. 
‘‘(2) HIGHER
EDUCATION
PRICE
INDEX
AND 
NET TUITION PRICE.—The terms ‘higher education 
price index’ and ‘net tuition price’ have the same 
meaning as provided in section 133(f). 
‘‘SEC. 802. AUTHORIZATION OF APPROPRIATIONS; RES-
ERVATIONS. 
‘‘(a) APPROPRIATIONS AUTHORIZED.—There are au-
thorized to be appropriated to carry out this title 
$30,000,000 for fiscal year 2008 and such sums as may 
be necessary for each of the 5 succeeding fiscal years. 
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‘‘(b) RESERVATIONS.—Of the amount appropriated 
in each fiscal year— 
‘‘(1) not less than 50 percent shall be available 
for carrying out grants to institutions of higher edu-
cation and combinations of such institutions de-
scribed in section 803(a)(1)(A) for cooperative edu-
cation under section 803; 
‘‘(2) not less than 25 percent shall be available 
for carrying out grants to institutions of higher edu-
cation described in section 803(a)(1)(B) for coopera-
tive education under section 803; 
‘‘(3) not to exceed 11 percent shall be available 
for demonstration projects under paragraph (1) of 
section 804(a); 
‘‘(4) not to exceed 11 percent shall be available 
for training and resource centers under paragraph 
(2) of section 804(a); and 
‘‘(5) not to exceed 3 percent shall be available 
for research under paragraph (3) of section 804(a). 
‘‘(c) AVAILABILITY
OF APPROPRIATIONS.—Appro-
priations under this title shall not be available for the pay-
ment of compensation of students for employment by em-
ployers under arrangements pursuant to this title. 
‘‘SEC. 803. GRANTS FOR COOPERATIVE EDUCATION. 
‘‘(a) GRANTS AUTHORIZED.— 
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‘‘(1) IN GENERAL.—The Secretary is author-
ized— 
‘‘(A) from the amount available under sec-
tion 802(b)(1) in each fiscal year and in accord-
ance with the provisions of this title, to make 
grants to institutions of higher education or 
combinations of such institutions that have not 
received a grant under this paragraph in the 
10-year period preceding the date for which a 
grant under this section is requested to pay the 
Federal share of the cost of planning, estab-
lishing, expanding, or carrying out programs of 
cooperative education by such institutions or 
combinations of institutions; and 
‘‘(B) from the amount available under sec-
tion 802(b)(2) in each fiscal year and in accord-
ance with the provisions of this title, to make 
grants to institutions of higher education that 
are operating an existing cooperative education 
program as determined by the Secretary to pay 
the cost of planning, establishing, expanding, or 
carrying out programs of cooperative education 
by such institutions. 
‘‘(2) PROGRAM
REQUIREMENT.—Cooperative 
education programs assisted under this section shall 
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