Tuition Reduction and Information Act of 1998

[AI summary unavailable — showing source text] Tuition Reduction and Information Act of 1998 - Provides for implementing certain recommendations of the National Commission on the Cost of Higher Education. (Sec. 2) Directs the Secretary of Education to: (1) convene a series of forums to develop a nationally uniform methodology for reporting costs incurred by postsecondary institutions in providing undergraduate and graduate education; (2) redesign relevant parts of the integrated postsecondary education data system to improve usefulness and timeliness; and (3) establish a system for the publication, in printed and electronic form, of such postsecondary educational cost data, in a form that permits parents and students to review and compare the data submissions of individual institutions of higher education on the basis of certain factors. (Sec. 3) Amends the Higher Education Act of 1965 (HEA) to require the Secretary to: (1) review biennially any student assistance regulations that apply to the operations or activities of any participant in those programs; (2) modify any such regulation determined to be no longer necessary in the public interest; and (3) report to the Congress any legislative changes necessary to permit such reg…