83R5757 KSD-D
By: Martinez Fischer H.B. No. 3341
A BILL TO BE ENTITLED
AN ACT
relating to a requirement that public institutions of higher
education provide a student receiving student financial assistance
an annual disclosure regarding the status of the student's
financial assistance.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter A, Chapter 56, Education Code, is
amended by adding Section 56.009 to read as follows:
Sec. 56.009. ANNUAL DISCLOSURE OF STUDENT FINANCIAL
ASSISTANCE STATUS. (a) As soon as practicable during or following
an academic year, an institution of higher education shall provide
to each student who received student financial assistance through
the institution for attendance at the institution during that
academic year a detailed, written disclosure of the type and amount
of, and any repayment obligation of the student regarding:
(1) the student financial assistance offered to and
received by the student; and
(2) any student financial assistance available to the
student for attendance at the institution in the subsequent
academic year.
(b) The disclosure must inform the student if the
availability or amount of any student financial assistance
identified in the disclosure as available to the student is subject
to change.
(c) The Texas Higher Education Coordinating Board, in
consultation with financial aid personnel at institutions of higher
education, shall adopt rules for the administration of this
section, including rules prescribing the format of the disclosure
required by Subsection (a) to ensure its clarity and
understandability.
SECTION 2. Section 56.009, Education Code, as added by this
Act, applies beginning with student financial assistance awarded
for the 2014-2015 academic year.
SECTION 3. This Act takes effect September 1, 2013.