| 1 | 1 | | HOUSE . . . . . . . . No. 4452 |
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| 2 | 2 | | The Commonwealth of Massachusetts |
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| 3 | 3 | | ________________________________________ |
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| 4 | 4 | | HOUSE OF REPRESENTATIVES, March 6, 2024. |
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| 5 | 5 | | The committee on Higher Education, to whom was referred the |
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| 6 | 6 | | petition (accompanied by bill, House, No. 1272) of Bradley H. Jones, Jr. |
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| 7 | 7 | | and others relative to financial literacy counseling for students accepted at |
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| 8 | 8 | | public institutions of higher education, reports recommending that the |
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| 9 | 9 | | accompanying bill (House, No. 4452) ought to pass. |
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| 10 | 10 | | For the committee, |
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| 11 | 11 | | DAVID M. ROGERS. 1 of 1 |
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| 12 | 12 | | FILED ON: 2/7/2024 |
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| 13 | 13 | | HOUSE . . . . . . . . . . . . . . . No. 4452 |
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| 14 | 14 | | The Commonwealth of Massachusetts |
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| 15 | 15 | | _______________ |
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| 16 | 16 | | In the One Hundred and Ninety-Third General Court |
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| 17 | 17 | | (2023-2024) |
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| 18 | 18 | | _______________ |
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| 19 | 19 | | An Act relative to higher education financial literacy counseling. |
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| 20 | 20 | | Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority |
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| 21 | 21 | | of the same, as follows: |
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| 22 | 22 | | 1 SECTION 1. Chapter 15A of the General Laws, as appearing in the 2020 Official |
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| 23 | 23 | | 2Edition, is hereby amended by adding the following new section:- |
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| 24 | 24 | | 3 Section 46. The board of higher education shall have, within its discretion, the authority |
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| 25 | 25 | | 4to request that any institution of higher education provide financial literacy counseling to |
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| 26 | 26 | | 5accepted applicants of the institution relative to student loans and other expenses to students |
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| 27 | 27 | | 6upon arriving on campus. The board is further authorized to provide a College Financing Plan |
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| 28 | 28 | | 7developed by the Federal Consumer Financial Protection Bureau and the United States |
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| 29 | 29 | | 8Department of Education to said accepted applicants of any institution of higher education. The |
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| 30 | 30 | | 9College Financing Plan shall include the estimated cost of attendance including; tuition and fees, |
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| 31 | 31 | | 10housing and meals, books and supplies, transportation, other education costs as well as grants |
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| 32 | 32 | | 11and scholarships, work-study, and loan options. The institution of higher education may provide |
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| 33 | 33 | | 12an electronic version of the College Financing Plan in a printable format. The board of higher |
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| 34 | 34 | | 13education may promulgate regulations to carry out the purposes of this section. |
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