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NJ S188
Bill
Status
1/9/2024
Primary Sponsor
Vincent Polistina
Click for details
AI Summary
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Requires the New Jersey Secretary of Higher Education to establish guidelines for colleges and universities on providing clear, standardized student financial aid offers based on best practices from a 2022 Government Accountability Office report
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Mandates that financial aid offers clearly distinguish between direct and indirect costs, provide total cost of attendance, estimate net price, and use standardized terms and definitions
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Prohibits institutions from using the term "award" in financial aid offers and requires them to explain students' rights to accept or decline aid
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Requires all financial aid offers to include contact information for institutional representatives who can provide additional assistance
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Guidelines must comply with the U.S. Department of Education's "College Financing Plan" and existing New Jersey consumer information laws while avoiding duplication of federal requirements
Legislative Description
Requires Secretary of Higher Education to establish guidelines regarding best practices for student financial aid offers.
Higher Education
Last Action
Introduced in the Senate, Referred to Senate Higher Education Committee
1/9/2024