Student financial aid: Cal Grant Program: cost of attendance.
By requiring institutions to create consistent and transparent COA policies, AB 791 seeks to enhance financial aid accessibility for students, particularly those from low-income backgrounds. The legislation aims to address the disparities in financial aid offerings across different institutions and potentially reduce student debt by ensuring that financial aid packages more accurately reflect the actual costs students face in pursuing their education.
Assembly Bill 791, introduced by Assembly Member Berman, aims to amend Section 69432.7 of the Education Code, focusing on the Cal Grant Program and the related cost of attendance policies of qualifying educational institutions. The bill mandates that postsecondary institutions develop and implement a standardized cost of attendance (COA) policy, ensuring that this aligns with federal standards. The intention is to provide clearer guidelines and support for students regarding financial aid, helping them gauge the true cost of attending college, which includes tuition, living expenses, and other fees.
Despite its positive intentions, AB 791 could face opposition from certain educational institutions that may resist the added regulatory burden of implementing standardized policies. Concerns may also arise regarding how closely these regulations will adhere to federal guidelines, particularly in light of recent reports indicating that many California institutions do not comply with existing disclosure requirements related to COA adjustments. This bill could highlight existing inequalities among institutions while pushing for a more equitable approach to student funding and financial aid.