senate Bill S1563

2013-2014 Legislative Session

Requires institutions of higher education to disclose financial aid policies

download bill text pdf

Sponsored By

Archive: Last Bill Status -


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to higher education
Jan 09, 2013 referred to higher education

Co-Sponsors

S1563 - Details

Law Section:
Education Law
Laws Affected:
Add Art 14-B §§698 - 698-b, §209-b, Ed L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S1807
2009-2010: S2050

S1563 - Summary

Enacts the "financial aid disclosure act"; makes definitions; requires institutions of higher education to disclose financial aid policies relating to contributions to be made by such institution, any changes which may result to such financial aid and the reasons therefor; makes board of regents in charge of enforcement.

S1563 - Sponsor Memo

S1563 - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  1563

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by  Sens.  LAVALLE, DeFRANCISCO, LARKIN, RANZENHOFER -- read
  twice and ordered printed, and when printed to  be  committed  to  the
  Committee on Higher Education

AN  ACT to amend the education law, in relation to financial aid disclo-
  sure

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The education law is amended by adding a new article 14-B
to read as follows:
                              ARTICLE 14-B
                      FINANCIAL AID DISCLOSURE ACT
SECTION 698. SHORT TITLE.
        698-A. DEFINITIONS.
        698-B. DISCLOSURE OF FINANCIAL AID POLICY.
  S 698. SHORT TITLE. THIS ARTICLE SHALL BE KNOWN AS THE "FINANCIAL  AID
DISCLOSURE ACT."
  S  698-A.  DEFINITIONS.  AS  USED IN THIS ARTICLE, THE FOLLOWING TERMS
SHALL HAVE THE FOLLOWING MEANINGS UNLESS OTHERWISE SPECIFIED:
  1. "INSTITUTION OF HIGHER EDUCATION" SHALL HAVE THE  SAME  MEANING  AS
DEFINED IN ARTICLE FOURTEEN-A OF THIS CHAPTER.
  2.  "STUDENT" MEANS ANY INDIVIDUAL OR GROUP OF INDIVIDUALS RESPONSIBLE
FOR PAYING THE COST OF AN ENROLLED STUDENT'S HIGHER EDUCATION, INCLUDING
BUT NOT LIMITED TO A STUDENT AND HIS OR HER FAMILY.
  3. "FINANCIAL AID AWARD" MEANS ANY SCHOLARSHIP, GRANT, LOAN  OR  OTHER
FINANCIAL  AID  COMPENSATION  AWARDED  TO  A  STUDENT BY OR ADMINISTERED
THROUGH AN INSTITUTION OF HIGHER EDUCATION WITH THE PURPOSE OF  DECREAS-
ING  THE STUDENT'S COST OF ATTENDANCE AT AN INSTITUTION OF HIGHER EDUCA-
TION.
  4. "OUTSIDE FINANCIAL AID AWARD" MEANS ANY SCHOLARSHIP,  GRANT,  AWARD
OR  OTHER TYPE OF FINANCIAL ASSISTANCE AWARDED TO A STUDENT BY OR ADMIN-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

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