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NY S03738
Bill
Status
2/11/2025
Primary Sponsor
Toby Stavisky
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 application from a student
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Students are automatically deemed eligible for financial aid for the semester if the corporation fails to make a determination within the 60-day deadline
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Allows the corporation to obtain a 30-day extension by providing written notification to the educational institution within the initial 60-day period stating additional review time is needed
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Takes effect on July 1st of 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
1/7/2026