Bill > S5013

This bill establishes the "Minority-Serving Institution of Higher Education Fund," a nonlapsing, revolving fund designed to support public higher education institutions designated as minority-serving institutions under the federal Higher Education Act of 1965. The fund will be credited with state legislative appropriations, federal funds, and private contributions, and can be used to support initiatives that increase minority student enrollment, retention, and graduation rates; expand higher education access; address equity gaps; and support student success. The Office of the Secretary of Higher Education will administer the fund, allocating resources to minority-serving institutions using a methodology determined by the secretary. Institutions receiving funds will be required to report details about how they use the money to the secretary, in a format the secretary specifies. The bill is designed to provide targeted financial support to institutions that serve historically underrepresented student populations, with the goal of improving educational outcomes and opportunities for minority students in higher education.

Education

https://www.njleg.state.nj.us/bill-search/2024/S5013