12 2 STA T .3 1 0 1 PUBLIC LA W 110 – 31 5— AU G .1 4, 200 8‘ ‘ (g)STA T EHIGH E REDUC ATI ON S P ENDING C HART .—The Se c-r e ta r ys ha l la n n u ally re po rt on the College N a vi gator w e b site , in charts f or each State, co m parisons of— ‘‘( 1 ) the percentage change in spen d ing by such State per full-time e q uivalent student at all public institutions of higher education in such State, for each of the five most recent pre- ceding academic years
‘‘( 2 ) the percentage change in tuition and fees for such students for all public institutions of higher education in such State for each of the five most recent preceding academic years; and ‘‘( 3 ) the percentage change in the total amount of need- based aid and merit-based aid provided by such State to full- time students enrolled in the public institutions of higher edu- cation in the State for each of the five most recent preceding academic years. ‘‘(h) NET P RICE CA L CULATOR.— ‘‘(1) D E V ELOP M ENT O F NET PRICE CALCULATOR.—Not later than one year after the date of enactment of the Higher Edu- cation O pportunity A ct, the Secretary shall, in consultation with institutions of higher education and other appropriate e x perts, develop a net price calculator to help current and prospective students, families, and other consumers estimate the individual net price of an institution of higher education for a student. The calculator shall be developed in a manner that enables current and prospective students, families, and consumers to determine an estimate of a current or prospective student ’ s individual net price at a particular institution. ‘‘(2) CALCULATION OF INDIVIDUAL NET PRICE.— F or purposes of this subsection, an individual net price of an institution of higher education shall be calculated in the same manner as the net price of such institution is calculated under sub- section (a)(3), except that the cost of attendance and the amount of need-based and merit-based aid available shall be calculated for the individual student as much as practicable. ‘‘(3) US E OF NET PRICE CALCULATOR BY INSTITUTIONS.— Not later than two years after the date on which the Secretary ma k es the calculator developed under paragraph (1) available to institutions of higher education, each institution of higher education that receives Federal funds under title IV shall make publicly available on the institution’s website a net price calcu- lator to help current and prospective students, families, and other consumers estimate a student’s individual net price at such institution of higher education. Such calculator may be a net price calculator developed— ‘‘(A) by the Department pursuant to paragraph (1); or ‘‘( B ) by the institution of higher education, if the institution’s calculator includes, at a minimum, the same data elements included in the calculator developed under paragraph (1). ‘‘( 4 ) DISCLAIMER.—Estimates of an individual net price determined using a net price calculator required under para- graph (3) shall be accompanied by a clear and conspicuous notice— ‘‘(A) stating that the estimate— Deadlin e .W e bs i t e. Deadline. R e por ts. Web site.
�
