Georgia Student Finance Authority; establish a needs based financial aid program to award grants to eligible students who have not yet received their financial aid award
Impact
If enacted, HB 695 is expected to enhance educational access for economically disadvantaged students in Georgia by addressing funding gaps that arise at the start of the academic year. The bill promotes timely support for students who are already facing obstacles in their educational journey due to financial constraints. This could foster greater student retention and success, as students will be better equipped with the materials needed for their courses.
Summary
House Bill 695 establishes a needs-based financial aid program under the Georgia Student Finance Authority. This initiative is designed to provide grants to eligible students who have not yet received their financial aid awards. The program aims to alleviate financial barriers by ensuring that students can access essential materials necessary for their studies, such as books and other course-related items. The maximum grant award per eligible student is set at $5,000, providing significant support for those in need.
Contention
The bill may face varying opinions regarding its implementation and funding. Critics might argue about the potential for misuse of funds or the adequacy of the financial assessments made for determining eligibility. Additionally, discussions could arise concerning the allocation of state resources and the prioritization of such programs amidst other educational funding needs. Overall, the efficacy of the program will largely depend on the specific rules and criteria established by the commission overseeing the grants.