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Assembly Bill A786

2025-2026 Legislative Session

Prohibits private colleges from collecting financial information from a student's non-custodial parent; requires that private colleges use student financial aid formulas that are arrived at independently

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Current Bill Status - In Assembly Committee

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2025-A786 (ACTIVE) - Details

Current Committee:
Assembly Higher Education
Law Section:
Education Law
Laws Affected:
Add §224-b, Ed L

2025-A786 (ACTIVE) - Summary

Prohibits independent higher education institutions from collecting financial information from a student's or prospective student's non-custodial parent; requires that private colleges use student financial aid formulas that are arrived at independently, without coordination with outside standard setting organizations.

2025-A786 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    786
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                (PREFILED)
 
                              January 8, 2025
                                ___________
 
 Introduced  by  M.  of  A.  ROSENTHAL  --  read once and referred to the
   Committee on Higher Education
 
 AN ACT to amend the education law, in relation to prohibiting  independ-
   ent  higher  education institutions from collecting financial informa-
   tion from a student's non-custodial parent and  requiring  independent
   higher  education  institutions  to  make student aid formula determi-
   nations independently
 
   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 section 224-b
 to read as follows:
   § 224-B. COLLECTION OF FINANCIAL INFORMATION FROM NON-CUSTODIAL PARENT
 PROHIBITED; STUDENT FINANCIAL AID FORMULA DETERMINATIONS.  1.  NO  INDE-
 PENDENT  HIGHER  EDUCATION  INSTITUTION  IN NEW YORK STATE SHALL COLLECT
 FINANCIAL INFORMATION FROM A STUDENT'S OR PROSPECTIVE STUDENT'S NON-CUS-
 TODIAL PARENT FOR THE PURPOSE OF DETERMINING FINANCIAL AID AWARDS.
   2. STUDENT FINANCIAL AID FORMULAS, INCLUDING EXPECTED FAMILY  CONTRIB-
 UTION FORMULAS, USED BY INDEPENDENT HIGHER EDUCATION INSTITUTIONS IN NEW
 YORK  STATE SHALL BE DETERMINED INDEPENDENTLY BY SUCH INSTITUTIONS WITH-
 OUT CONSULTATION, COMMUNICATION, OR PARTICIPATION WITH ANY OUTSIDE STAN-
 DARD SETTING ORGANIZATION.
   § 2. This act shall take effect on the first of January next  succeed-
 ing the date on which it shall have become a law.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02501-01-5



              

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