General Assembly Substitute Bill No. 6587
January Session, 2017 *_____HB06587HED___032117____*
General Assembly
Substitute Bill No. 6587
January Session, 2017
*_____HB06587HED___032117____*
AN ACT CONCERNING THE STANDARDIZATION OF FINANCIAL AID LETTERS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. (NEW) (Effective October 1, 2017) The public and independent institutions of higher education shall collaborate to create a standardized financial aid letter to be provided to each student enrolled at any institution of higher education in this state. Such standardized financial aid letter shall consist of the following: (1) A section itemizing all grants, scholarships and federal loans awarded to the student; (2) a section itemizing all funding that the student may be eligible to receive, including, but not limited to, work-study opportunities and Parent PLUS Loans; and (3) a glossary that includes definitions of terms used in such standardized financial aid letter, including, but not limited to, grant, scholarship, loan and work-study.
This act shall take effect as follows and shall amend the following sections:
Section 1 October 1, 2017 New section
This act shall take effect as follows and shall amend the following sections:
Section 1
October 1, 2017
New section
HED Joint Favorable Subst.
HED
Joint Favorable Subst.