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NY A03135
Bill
Status
2/2/2023
Primary Sponsor
Gary Pretlow
Click for details
AI Summary
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Requires the higher education services corporation to determine financial aid eligibility within 60 days of receiving a completed financial aid application from a student
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Students are automatically deemed eligible to receive financial aid for the semester if the corporation fails to make an eligibility determination within the 60-day period
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Allows the corporation a single 30-day extension to complete eligibility determination if written notification is provided to the institution within the initial 60-day window
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Applies to general and academic performance awards, student loans, and tuition assistance program awards under education law section 665
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Takes effect on July 1 in the second year following enactment
Legislative Description
Requires the higher education services corporation to make a determination of financial eligibility of a student for financial aid, awards and loans within 60 days from the day of the receipt of the financial aid application; where the higher education services corporation fails to make a timely determination the applicant shall be deemed eligible for such aid for the semester for which the application was made; allows for a 30-day extension if notice is given to the educational institution within the initial 60-day period.
Last Action
referred to higher education
1/3/2024