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NJ A2177
Bill
Status
1/9/2024
Primary Sponsor
William Moen
Click for details
AI Summary
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Amends existing law (P.L.2021, c.223) governing when public colleges and universities can reduce a student's institutional financial aid after the student receives private scholarships
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Redefines "financial need" as simply the cost of attendance, removing the subtraction of expected family contribution from the calculation
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Under current law, institutions can reduce aid when total financial aid from all sources exceeds financial need (cost of attendance minus expected family contribution); this change would make it harder to trigger that reduction
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Eliminates the definitions of "cost of attendance" and "expected family contribution" as separate terms from the statute, keeping only the reference to federal cost of attendance standards
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Takes effect immediately upon enactment
Legislative Description
Removes expected family contribution from calculation of financial need under circumstances in which public institutions of higher education may reduce student's institutional financial aid.
Withdrawn Because Approved
Last Action
Withdrawn Because Approved P.L.2023, c.317.
1/9/2024