; and (II) when combined with the program length of such additional educational program for licensure, has a total program length that exceeds the relevant earnings measurement period prescribed for such program of study under clause (i), except that in no case shall the annual earnings of a student be measured more than 5 years after the student completes a program of study. . B College Costs and Financial Value 111. Financial aid offers (a) Institution financial aid offer 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 form and terminology The Secretary of Education, in consultation with the heads of relevant Federal agencies, shall develop standard terminology and a standard form for financial aid offers based on recommendations from representatives of students, veterans, servicemembers, families of students, 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, college access professionals, nonprofit organizations, and consumer groups. (b) Key required contents for aid offer The standard form developed pursuant to subsection (a) shall be titled Financial Aid Offer and shall include the following items in a consumer-friendly manner that is simple and understandable, with costs listed first, followed by grants and scholarships, clearly separated from each other with separate headings: (1) Cost information (A) In general Information on the student’s estimated cost of attendance, including the following: (i) Direct costs The total cost of all items described in section 472 of the Higher Education Act of 1965 ( 20 U.S.C. 1087ll ) that are billed to the student by the institution or otherwise required by the institution for enrollment, including such total cost disaggregated by the cost of each such item, including, as