SB 01043 Summary

• Repeals and replaces Section 10a-173 of the general statutes effective July 1, 2023, to restructure the Roberta B. Willis Scholarship program for Connecticut undergraduate students.

• Changes the definition of "family contribution" from expected family contribution (FAFSA-based) prior to July 1, 2024, to student aid index-based calculation on and after July 1, 2024.

• Establishes three grant components: need and merit-based grants (20-30% of appropriations), need-based grants (up to 80% of appropriations), and Charter Oak grants (minimum $100,000), with maximum awards of $4,500 for full-time students at public and independent institutions.

• Requires participating institutions to submit annual data on Connecticut students applying for financial aid and maintain records for three years; institutions failing to submit required information are prohibited from program participation in the following fiscal year.

• Requires the Office of Higher Education to submit annual reports to the joint standing committee on higher education by January 1, 2024, and annually thereafter detailing appropriations allocated and number of residents awarded grants.