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

Christie defends himself in NH

Zapped by the DNC on his way into New Hampshire this afternoon, Gov. Chris Christie defended his economic record while wooing NH voters for the second time in little more than a month, according to the Associated Press.

Read More >

Wake-Up Call

Morning Digest: July 31st

  Christie to Newark hecklers: 'I've spent as much time in Newark as anyone else' BELMAR - Gov. Chris Christie's got nothing but love for The Brick City, or so he says. In response to a Newark school student here today -- a 17-year-old president of the Newark Student Union...

Op-Ed

The health of New Jersey's women is not Chris Christie's priority

By Linda Stender At his most recent town hall, Gov. Chris Christie accused his predecessors of "monkeying with the math" when it comes to their handling of our state's economy. But as the old saying goes, when the governor points a finger, he... Read More >

Contributors

(7-30-14) Who Is Best Equipped to Decide the Fate of the Common Core? - The latest Christie controversy surrounds his Executive Order to revamp the state’s academic... more »
 The following letter was sent today to Republican state legislators, county chairs, state committee members, and New Hampshire... more »
The Perry-Paul Debate is Healthy for the GOP – and for America  The foreign policy debate in the media between prospective GOP Presidential candidates Texas Governor Rick Perry and... more »
(Washington DC)-- Two recent votes on Capitol Hill suggest an overdue and radical departure from our nation's Draconian and costly War on Drugs.  It's a long-overdue discussion (and not just... more »

Quote of the Day

quote of the day

"Go to Mayor [Cory] Booker and ask him if he thinks in the years that he was mayor if I ignored Newark. The fact is I've spent as much time in Newark as anyone else." - Gov. Chris Christie

- PolitickerNJ

Poll

Who's right on the bail reform special session?:

Blogroll

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