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Bill > A2177
NJ A2177
NJ A2177Removes expected family contribution from calculation of financial need under circumstances in which public institutions of higher education may reduce student's institutional financial aid.
summary
Introduced
01/09/2024
01/09/2024
In Committee
01/09/2024
01/09/2024
Crossed Over
Passed
Dead
01/09/2024
01/09/2024
Introduced Session
2024-2025 Regular Session
Bill Summary
This bill amends P.L.2021, c.223 to remove reference to expected family contribution. P.L.2021, c.223 provides that a public institution of higher education may only reduce a student's institutional financial aid, as a result of the awarding of private scholarships to the student, under certain circumstances. One of the circumstances in which an institution could reduce institutional aid under the law is if a student's total financial aid from all sources exceeds the student's financial need. In this case, the institution may only reduce the student's institutional financial aid until the student's total financial aid no longer exceeds the student's financial need. Under the law, financial need is defined as the student's cost of attendance minus the student's expected family contribution. This bill would remove expected family contribution from the calculation of financial need.
AI Summary
This bill amends a previous law (P.L.2021, c.223) to remove the expected family contribution from the calculation of a student's financial need when determining whether a public institution of higher education can reduce the student's institutional financial aid due to the awarding of private scholarships. Under the previous law, financial need was defined as the student's cost of attendance minus the expected family contribution. This bill eliminates the expected family contribution from the definition of financial need, allowing institutions to reduce aid only if the student's total financial aid exceeds their cost of attendance, as defined under federal law.
Committee Categories
Education
Sponsors (3)
Last Action
Withdrawn Because Approved P.L.2023, c.317. (on 01/09/2024)
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.njleg.state.nj.us/bill-search/2024/A2177 |
| BillText | https://pub.njleg.gov/Bills/2024/A2500/2177_I1.HTM |
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