Bill > S830

This bill proposes to reform the institutional eligibility requirements for state-based financial aid in Massachusetts. Specifically, it states that no state scholarship funds shall be made available to any postsecondary educational institution that does not meet certain criteria. To be eligible, an institution must demonstrate a graduation rate of at least 30% for undergraduate students taking 150% or less of the expected time to complete their degree, or have an average 3-year cohort default rate of no more than 20%. The bill also requires the Board of Higher Education to promulgate rules and regulations to implement these requirements, including procedures for determining which institutions meet the criteria and a process for institutions to appeal a determination.