Bill
Bill > S07859
NY S07859
NY S07859Requires student financial aid award letters to contain information on net costs, defined as an estimate of the costs of attendance after financial aid which does not require repayment and options for loans which do require repayment.
summary
Introduced
01/03/2024
01/03/2024
In Committee
06/06/2024
06/06/2024
Crossed Over
06/06/2024
06/06/2024
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
2023-2024 General Assembly
Bill Summary
AN ACT to amend the banking law, in relation to information included in student financial aid award letters
AI Summary
This bill amends the New York Banking Law to require student financial aid award letters to include information on net costs, defined as an estimate of the costs of attendance after financial aid that does not require repayment, as well as options for loans that do require repayment. The bill also requires the Superintendent of Financial Services, in consultation with the President of the Higher Education Services Corporation, to develop a standard financial aid award letter that must be used by all colleges, vocational institutions, and other institutions offering approved programs in New York starting in the 2016-2017 academic year.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
referred to banks (on 06/06/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2023/S7859 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S07859&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S07859 |
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