Bill > S2102

This bill aims to strengthen and expand affordable, quality higher education opportunities for residents of the Commonwealth by appropriating funds for various initiatives and amending existing laws. Key provisions include allocating millions of dollars to the Department of Higher Education for programs such as private fundraising incentives, scholarship opportunities, and a transfer system to ensure smooth credit transfers between public institutions. The bill also establishes new programs like the Education Rewards Grant Program, a Licensed Certified Social Worker Student Education Loan Repayment Pilot Program, and a matching grant program for lower-income families saving for postsecondary education. Furthermore, it mandates financial literacy education in K-12 schools, requires public institutions to provide uniform financial aid information to students, and sets new standards for student loan default rates and graduation rates for institutions to receive state scholarship funds. The bill also introduces a partnership to advance collaboration and efficiency (PACE) among public higher education institutions to foster cost savings and improve educational opportunities, and it outlines increased state appropriations for the University of Massachusetts, state universities, and community colleges over several fiscal years, with a condition to freeze tuition increases if sufficient funding is provided. Finally, it mandates that public higher education institutions offer embedded remedial support or intensive college readiness programs for students who may need additional academic assistance to succeed in college-level coursework.