Isakson and Roe Section 1018 Requirements
Section 1018 of Public Law 116-315, , adds new requirements for educational institutions participating in the educational assistance programs of the U.S. Department of Veterans Affairs (VA). These new provisions became effective June 15, 2021 and apply to Institutions of Higher Learning and Non-College Degree institutions beginning August 1, 2021.
Universities will provide financial information to students using benefits under chapter 30, 31, 33, or 35, or chapter 1606 or 1607, with a personalized shopping sheet that contains:
Estimated total cost of the course that includes tuition, fees, books, supplies and any other additional costs
Cost of Attendance: the information is provided to assist students and families with financial planning. We include both direct costs (billed by Íæż½ã½ã) and indirect costs (realistic allowances for transportation and personal expenses, for example).
Estimated Cost of Living Expenses
Íæż½ã½ã constructs an estimated cost of attendance for each student that includes tuition, fees, books and supplies, room and board, transportation, and miscellaneous personal expenses associated with attending the university. A student’s actual costs may vary based upon their own unique circumstances.
Estimates of future costs and aid eligibility are subject to change based on factors that cannot be reliably predicted. Unforeseeable variables could result in a student’s actual costs and aid eligibility being higher or lower than estimates provided.
Estimated Costs Assistance:
Amount of costs that are covered by VA Education Benefits (Chapter 30, 31, 33, 35, 1606, and 1607, amount dependent on the eligibility of the student) determined by the U.S. Department of Veterans Affairs (VA)
The includes questions to refine benefit estimates. It is important to complete all fields in the “Calculate your benefits†section to see what the VA provides in terms of tuition and fees, housing allowances, and book stipends by year (or by term) and what costs will be out-of-pocket for the student. The “Comparison Tool†also shows if funds are paid to the school or, directly, to the student.