Bill > H3955

This bill aims to strengthen and expand affordable, quality higher education opportunities for residents of the Commonwealth by allocating significant funding to various initiatives, including supplementing existing appropriations for fiscal year 2016, establishing new programs, and providing tax incentives. Key provisions include funding for the Department of Higher Education, the development of financial literacy standards, support for private fundraising by public institutions with matching funds allocated to the University of Massachusetts, state universities, and community colleges, and the creation of a transfer system to ensure consistent credit recognition across public institutions. The bill also mandates uniform student financial aid information disclosure, introduces a pilot program for licensed certified social worker student loan repayment, establishes a TAFDC Career Pathways Trust Fund to support recipients of transitional aid in obtaining community college degrees or certificates, and creates a Partnership to Advance Collaboration and Efficiency (PACE) to foster operational efficiencies and cost savings in higher education. Furthermore, it introduces tax deductions and credits for contributions to prepaid tuition or college savings programs, allows for electronic deposit of tax refunds into such programs, and establishes a pilot program to promote student employment partnerships between graduates and businesses, offering tax credits to participating businesses. The bill also mandates the integration of remedial support within college-level courses or intensive readiness programs, and requires alignment between high school and college curricula to ensure college readiness. Finally, it outlines increased appropriations for the University of Massachusetts, state universities, and community colleges over several fiscal years and for scholarships and financial aid, and establishes a funding formula for the University of Massachusetts based on base and performance metrics, with a focus on student completion rates.