for Education Statistics shall take such steps as are necessary to ensure that the development and maintenance of the postsecondary student data system required under section 132(l) of the Higher Education Act of 1965, as added by section 101 of this Act, occurs in a manner that reduces the reporting burden for entities that reported into the Integrated Postsecondary Education Data System (IPEDS). II Understanding the true cost of college 201. Institution Financial Aid Offer Form Section 484 of the Higher Education Opportunity Act ( 20 U.S.C. 1092 note) is amended to read as follows: 484. Institution Financial Aid Offer Form (a) Standard format and terminology The Secretary of Education, in consultation with the heads of relevant Federal agencies, shall develop standard terminology and a standard format for financial aid offer forms based on recommendations from representatives of students, veterans, servicemembers, students’ families, institutions of higher education (including community colleges, for-profit institutions, four-year public institutions, and four-year private nonprofit institutions), financial aid experts, secondary school and postsecondary counselors, non­profit organizations, and consumer groups. (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, a form titled Financial Aid Offer , which shall include the following items, with costs listed first followed by grants and scholarships, clearly separated from each other with separate headings: (1) Cost information (A) Information on the student's estimated cost of attendance, including the following: (i) Total direct costs, including the component totals each for— (I) tuition and fees, as determined under section 472 of the Higher Education Act of 1965 ( 20 U.S.C. 1087ll )