The passage of S846 is expected to have a significant impact on state laws regarding higher education financing and tuition rates. By mandating an annual adjustment to the tuition credit, the bill will ensure that students receive consistent financial support relative to increasing tuition costs. This measure may also create a more predictable financial landscape for students and their families, potentially leading to higher enrollment and retention rates at UMass as affordability improves.
Summary
Senate Bill 846, titled 'An Act relative to UMass tuition credit', aims to amend existing law regarding tuition credits at the University of Massachusetts (UMass). The bill seeks to ensure that the value of the tuition credit is adjusted annually to maintain its worth at no less than 12.5% of the total student charges for the academic year. This legislative proposal is intended to enhance the financial support provided to students attending UMass and to promote affordability in higher education within the state.
Contention
The bill may face some contention regarding the stipulation that the Board of Trustees at UMass can only accept new forms of tuition waivers, grants, or scholarships if they are accompanied by a full appropriation or approved by the board. This provision seeks to ensure that any reduction in tuition waivers does not negatively impact the financial sustainability of UMass while protecting the interests of students. Critics may argue that this limits the flexibility of the university to respond to financial challenges, while supporters believe it preserves funding integrity.
Replaced by
Order relative to authorizing the joint committee on Higher Education to make an investigation and study of certain current Senate documents relative to higher education matters.