Truth in Tuition Act of 2010 - Amends the Higher Education Act of 1965 to require institutions of higher education (IHEs) to provide each admitted student considering an undergraduate or graduate program: (1) a multi-year tuition and fee schedule; or (2) a single-year tuition and fee schedule, and a nonbinding, multi-year estimate of net costs after all financial aid is awarded.
Requires IHEs that choose the second option to include with each multi-year estimate the average deviation, in percentage terms, between previous year estimates and actual net costs for their students.
Directs the Secretary of Education to waive the application of these requirements to IHEs for which the requirements are not practicable due to events that cause them severe economic distress, a dramatic reduction in state or federal aid, or any other circumstance the Secretary deems valid.