PolitickerNJ Wire Feed

By Alise Roderer | December 6th, 2012 - 1:52pm
| More

 

BUONO-CUNNINGHAM BILL TO ALLOW PROSPECTIVE COLLEGE STUDENTS TO COMPARE FINANCIAL AID PACKAGES ADVANCES

Legislation Would Require New Jersey Colleges and Universities to Adopt Financial Aid ‘Shopping Sheet’

TRENTON – A bill sponsored by Senators Barbara Buono and Sandra Bolden Cunningham that would provide prospective college students and their parents with a better understanding of the costs and debt they will inherit in order for them to make more informed college-choice decisions was approved today by the Senate Higher Education Committee.

“The college financial aid process can be a confusing one with each college and university providing the student with different information and in a different format. Students and their parents end up comparing apples to oranges when trying to decide where to go to school,” said Senator Buono, D-Middlesex. “With a standardized form that allows financial aid to clearly and consistently be compared from school to school, students and their parents will be empowered to take control of their financial aid and make smarter decisions.”

The bill, S-2187, would require New Jersey four-year public and independent colleges to provide each prospective student with a standardized financial aid “shopping sheet” including information on the costs, loan options and estimated debt they will incur as part of their financial aid offer. The “shopping sheet” would be required at minimum to include:

 The total cost for one year of attendance at the school, including tuition, student fees, room and board, books and materials, transportation and other personal expenses;

 The total amount of grants and scholarships awarded to the students;

 The total amount the student would owe to the school for one year of attendance, taking into account all grants and scholarships;

 The total amount per year of student loans and work study funds the student is eligible for, broken down by federal student loans, federal work study funds, and private student loans;

 The total amount the student will owe for one year of attendance at the college or university compared to the average cost per year at other four-year public institutions in New Jersey, and to the average cost per year at independent institutions; and

 The estimated monthly student loan payment after graduation.

New Jersey’s colleges and universities would also be required to include the school’s graduation rates, reenrollment rates, and the percentage of students who defaulted on their loans on the “Shopping Sheet.”

“Students who are applying to multiple colleges across the state are tasked with determining which is the best fit for their future,” said Senator Cunningham, D-Hudson, and Chairwoman of the Senate Higher Education Committee. “In this day and age, financial affordability must be a major factor in that decision-making process. The financial aid ‘Shopping Sheet’ will help prospective college students and their parents make an informed decision in regards to the overall cost of higher education.”

The bill would require the state Secretary of Higher Education to provide a model format for the “shopping sheet,” so that prospective students and parents could easily compare costs and financial aid packages between schools. The Secretary of Higher Education would be directed to consider the sample “Shopping Sheet” unveiled by the Obama Administration in July 2012.

As of October, over 500 institutions across the country have adopted the federal “Shopping Sheet” for the 2013-2014 school year including New Jersey City University, Everest Institute-South Plainfield and the University of Phoenix-Jersey City Campus.

The bill was approved by the Senate Higher Education Committee with a vote of 4-0. It now heads to the Senate floor for a vote.

 

Contact Info: 

Alise Roderer
NJ Senate Democratic Office
609-847-3700
ARoderer@njleg.org

The Back Room

Sweeney goes on offense

Days after Jersey City Mayor (and 2017 gubernatorial hopeful) Steve Fulop declared his support and fundraising devotion to South Jersey Congressional candidate Bill Hughes, Senate President Steve Sweeney (D-3) see-sawed onto Fulop's turf with his own "I can find pockets of love in every part of this state including JC" statement.

Read More >

Wake-Up Call

Morning Digest: April 18, 2014

Fulop endorses Smith in Bayonne mayoral raceBAYONNE - Jersey City Mayor Steve Fulop parachuted into the Bayonne mayoral race on Thursday night by endorsing incumbent Mayor Mark Smith."It is a pleasure to be with you here, Mark," said Fulop to a crowd of more than 125 supporters at a...

Op-Ed

How the City of Paterson became a city in crisis

By HAYTHAM YOUNES As the May 13th election for Paterson officials nears, I've noticed a lot of candidates running using slogans and empty promises as if they weren't around watching Paterson get to where it's at today. I think it's important that... Read More >

Contributors

(4-16-14) New Jersey Vote By Mail Law - The voter turnout for New Jersey’s November gubernatorial election was the lowest since the days of prohibition, coming... more »
When it comes to profiling Christie, facts are for wussies (4/10/14) - As the national media stories on our Guv pile up, expect more blunders about the Garden State.... more »
This week I begin a series called Dispatches from Somewhere Else. Based on my on-going experiences as an everyman in New Jersey politics, these Dispatches review the hollowness of... more »
Watching Governor Chris Christie's shocking BridgeGate implosion, it's easy to forget the time when he truly seemed unstoppable.  Blessed with incredible political gifts and a Jersey bluster to match,... more »

Quote of the Day

Quote of the day

"This is my first Mark Smith event. There have been a lot of changes in Hudson County over the last year and a half, and the most important change that has happened is that there really is unity. For the first time, we really are working together. Despite political differences. Mark and I have worked very hard to repair that. I'm really happy to be here in support of him, because I recognize that when you work together, politics becomes secondary and you really have time to focus on government, which is the most important thing." - Jersey City Mayor Steven Fulop

- PolitickerNJ.com

Poll

Was Frank X. Graves of Paterson New Jersey's best mayor?:

Resources

Visit the PolitickerNJ.com/resources page for links to the best collection of information on New Jersey state government.

 

  • Polls
  • The best blogs
  • Columnists
  • State election results
  • Assembly election results
  • Local party websites
  • And more.

PolitickerNJ.com/resources