SB1376 creates the Historical Cost of Attendance Disclosure Act and requires every public or private Illinois college or university that offers baccalaureate degrees to post its cost of attendance on its website. The disclosure must cover each of the 10 academic years immediately before the Act’s effective date and continue for every academic year afterward.
The bill also requires institutions to break out which expenses are included in the Internal Revenue Service Form 1098-T and which expenses are not. In effect, the measure is aimed at giving prospective and current students, families, and other consumers a clearer historical picture of college pricing and a better understanding of how institutions report educational expenses for tax-related purposes.
Impact
The bill would add a new state-law disclosure requirement for Illinois higher education institutions offering bachelor’s degrees, affecting both public and private colleges and universities. It does not set tuition levels or change financial aid rules, but it would require schools to compile, maintain, and publish historical cost-of-attendance data and to identify the components that are and are not reflected in IRS Form 1098-T reporting. This could increase transparency and administrative workload for affected institutions while giving students and families a standardized way to compare long-term cost trends.
Sentiment
The recorded votes suggest the bill was broadly supported and not especially controversial. It passed the Senate 55-0 and later passed the House 109-1, indicating strong bipartisan approval. No committee transcripts were provided, so there is no recorded floor or committee debate to suggest significant opposition or concern.
Contention
There is little evidence of substantive contention in the available record. The only apparent point that could draw discussion is the administrative burden on colleges and universities to assemble 10 years of historical cost data and clearly distinguish expenses included in Form 1098-T from those excluded. Any concern would likely come from higher education institutions responsible for compliance, while supporters would likely emphasize transparency and consumer information for students and families.