Bill

Bill > S2933


NJ S2933

NJ S2933
Requires Higher Education Student Assistance Authority to permit certain students to submit monthly expense and resource statement for income verification; requires Higher Education Student Assistance Authority to impute in-kind support amounts.


summary

Introduced
03/07/2024
In Committee
03/07/2024
Crossed Over
Passed
Dead
01/12/2026

Introduced Session

2024-2025 Regular Session

Bill Summary

Under current policy, students applying for a State grant or scholarship under the purview of the Higher Education Student Assistance Authority (HESAA), who are requested by HESAA to submit documentation to verify income and assets, are only permitted to submit documentable proof produced by a State or federal government agency, for the purposes of the verification. Documentable proof produced by a State or federal agency may include, but is not limited to, income tax return transcripts, actual copies of income tax returns, Internal Revenue Service Wage and Income transcripts, and proof of receipt of State or federal public benefits such as Temporary Assistance for Needy Families, Supplemental Security Income, Social Security benefits, Supplemental Nutrition Assistance Program benefits, or unemployment benefits. When the income and assets of a student or a student's parents or guardians cannot be verified through such documentable proof, the student is not considered for State grants or scholarships. This bill would require HESAA to permit the submission of monthly expense and resource statements for those applicant students who cannot verify income and assets through documentable proof produced by a State or federal agency. The bill also requires HESAA to impute in-kind support amounts, which are to assume a minimal standard of living, on a student's monthly expense and resource statement, if the student records zero income and assets. In-kind support includes amounts paid for certain expenses on behalf of a student, or the student and the student's parents or guardians in the case of a dependent student, that are not considered loans.

AI Summary

This bill requires the Higher Education Student Assistance Authority (HESAA) to permit certain students who are unable to verify their income and assets through documentation from a government agency to instead submit a monthly expense and resource statement. Additionally, the bill requires HESAA to impute in-kind support, which assumes a minimal standard of living, on the resource portion of the monthly statement for students who report zero income and assets. The bill aims to provide an alternative method for these students to demonstrate their financial need and qualify for state grants or scholarships.

Committee Categories

Education

Sponsors (1)

Last Action

Introduced in the Senate, Referred to Senate Higher Education Committee (on 03/07/2024)

bill text


bill summary

Loading...

bill summary

Loading...

bill summary

Loading...