; (2) by striking subsection (b) and inserting the following: (b) Key required contents for offer form The standard format developed under subsection (a) shall include, in a consumer-friendly manner that is simple and understandable, the following items clearly separated from each other and listed on the first page of the financial aid offer form in either electronic or written format: (1) Information on the student's cost of attendance, which denotes figures that are estimates with a disclaimer that actual costs may depend on decisions made by the student, based on the most current costs for the academic period covered by the financial aid offer form, including the following: (A) Tuition and fees, as determined under section 472 of the Higher Education Act of 1965 ( 20 U.S.C. 1087ll ). (B) Room and board costs, as determined under section 472 of the Higher Education Act of 1965 ( 20 U.S.C. 1087ll ). (C) Books and supplies, as determined under section 472 of the Higher Education Act of 1965 ( 20 U.S.C. 1087ll ). (D) Transportation, as determined under section 472 of the Higher Education Act of 1965 ( 20 U.S.C. 1087ll ). (E) Miscellaneous personal expenses, as determined under section 472 of the Higher Education Act of 1965 ( 20 U.S.C. 1087ll ). (2) The amount of financial aid that the student does not have to repay, such as scholarships, grant aid offered under title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1070 et seq.), grant aid offered through other Federal programs, or grant aid offered by the institution, a State, or an outside source to the student for such academic period, including a disclosure that the financial aid does not have to be repaid and whether the student can expect to receive similar amounts of such financial aid for each academic period the student is enrolled at the institution. (3) The net price that the student, or the student's family on behalf of the student, is estimated to have to pay for the student to attend the institution for such academic period, with a disclaimer that