1. Short title This Act may be cited as the College Cost Transparency and Student Protection Act . 2. Financial aid offers Section 485 of the Higher Education Act of 1965 ( 20 U.S.C. 1092 ) is amended by adding at the end the following: (n) Financial aid offers (1) Institutional requirements Beginning with the first award year that begins not less than 1 year after the Secretary publishes requirements under subparagraph (2), each institution of higher education participating in any program under this title shall provide to each enrolled student (and prospective student accepted for enrollment) at such institution who applies for financial assistance under this title, a financial aid offer that— (A) shall comply with the requirements published by the Secretary under paragraph (2); and (B) may be supplemented by the institution with additional, non-contradictory information related to financial aid as long as such supplementary information uses the standardized terms and definitions described in paragraph (2). (2) Secretarial requirements Not later than 18 months after the date of enactment of the College Cost Transparency and Student Protection Act , the Secretary shall, based on the consumer testing conducted under paragraph (4), publish requirements for financial aid offers to be used by institutions of higher education under paragraph (1), which shall— (A) serve as the primary source for Federal, State, and institutional financial aid information provided by an institution of higher education participating in any program under this title to each enrolled student (and prospective student accepted for enrollment) at such institution; (B) include a requirement that no financial aid offer may be referred to as an award letter; (C) include the required content described in paragraph (3); (D) establish standardized terms and definitions, including for the required content described in paragraph (3), which shall be included in each financial aid offer