New Jersey Assembly Bill A2213

New Jersey 2024-2025 Regular Session

• Introduced: 1/9/24
• Refer: 1/9/24

Caption

Requires financial aid shopping sheet prepared by institutions of higher education and certain proprietary institutions to include information on average starting salaries of students.

Impact

The proposed changes to the financial aid shopping sheets are expected to create a significant impact on state laws governing higher education. By including average starting salary data, A2213 will require institutions to provide clearer comparisons of financial aid offers and expected graduate outcomes. This could lead to greater accountability among educational institutions concerning the return on investment for students and families, as they will have access to more detailed financial information.

Summary

Assembly Bill No. 2213 (A2213) mandates that financial aid shopping sheets created by higher education institutions, including proprietary schools, must contain information on the average starting salaries of graduates from various degree programs. This requirement aims to enhance transparency around the financial implications of pursuing higher education by enabling prospective students and their families to make more informed decisions regarding their educational investments.

Contention

Some potential points of contention surrounding A2213 may arise from institutions' concerns about how accurately they can report starting salaries and how this information might affect student choices. The inclusion of salary data could lead to competitive pressure between institutions, as they may need to showcase favorable salary outcomes to attract prospective students. Additionally, there may be discussions about how standardized the average salaries need to be, and whether universities are prepared to handle potential discrepancies in earnings data across various programs.