Requires institutions of higher education to disclose the average dollar amount of institutional aid awarded to students.
TITLE OF BILL:
An act to amend the education law, in relation to the disclosure of average awards by institutions of higher education
This Bill requires institutions of higher education to disclose the average dollar amount of institutional aid awarded to students with an annual incomes of less than two hundred thousand dollars ($200,000).
SUMMARY OF PROVISIONS:
Section 1. amends the education law by defining the terms "institution of higher education" and "income."
Section 2. amends the education law by requiring institutions of higher education to disclose the average dollar amount of institutional aid awarded to students with an annual incomes of less than two hundred thousand dollars. Such disclosure shall be made for each level of annual income in twenty thousand dollar increments. This information shall be available in written form upon request of any person and shall be set forth on the institutions web site and in their catalog.
Tuition discounting is the practice of using institutional aid to adjust tuition levels to best match what students and families are willing to pay. Almost half of private, four-year institutions with at least 1,000 students provide discounts to 90% or more of their students.
Financial aid awards for a student can vary dramatically between colleges, and it is nearly impossible for students who are evaluating a particular institution to predict the amount of institutional aid that they may receive. Unless this information is provided to them, prospective students are unable to obtain a realistic idea of the financial aid package that they may receive.
2009-10: S.877 2007-08: S.7215A
Sections 2( a) and 2(b) of this act shall take effect on the sixtieth day after it becomes law and Section 2(c) shall take effect on July 1, 2013.
STATE OF NEW YORK ________________________________________________________________________ 1001--A 2011-2012 Regular Sessions IN SENATE (PREFILED) January 5, 2011 ___________Introduced by Sen. LAVALLE -- read twice and ordered printed, and when printed to be committed to the Committee on Higher Education -- recom- mitted to the Committee on Higher Education in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the education law, in relation to the disclosure of average awards by institutions of higher education 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 6406 to read as follows: S 6406. DISCLOSURE OF AVERAGE AWARDS BY INSTITUTIONS OF HIGHER EDUCA- TION. 1. FOR PURPOSES OF THIS SECTION THE TERM "INSTITUTION OF HIGHER EDUCATION" SHALL MEAN AN INSTITUTION THAT MEETS THE REQUIREMENTS SET FORTH IN SUBDIVISION TWO OF SECTION SIXTY-FOUR HUNDRED ONE OF THIS ARTI- CLE, OR AS DEFINED IN SUBDIVISIONS TWO, THREE, OR FOUR OF SECTION THREE HUNDRED FIFTY OF THIS CHAPTER, OR SUBDIVISIONS FOUR OR FIVE OF SECTION SIXTY-TWO HUNDRED TWO OF THIS TITLE AND THE TERM "INCOME" SHALL HAVE THE SAME MEANING AS SUCH TERM IS DEFINED IN SUBDIVISION ONE OF SECTION SIX HUNDRED SIXTY-THREE OF THIS CHAPTER. 2. EACH INSTITUTION OF HIGHER EDUCATION LOCATED IN THIS STATE SHALL DISCLOSE THE AVERAGE DOLLAR AMOUNT OF AID AWARDED BY THE INSTITUTION TO STUDENTS WITH AN ANNUAL INCOME OF LESS THAN TWO HUNDRED THOUSAND DOLLARS. SUCH DISCLOSURE SHALL BE MADE FOR EACH LEVEL OF ANNUAL INCOME IN TWENTY THOUSAND DOLLAR INCREMENTS. SUCH DISCLOSURE SHALL BE AVAIL- ABLE: (A) IN WRITTEN FORM UPON REQUEST BY ANY PERSON; (B) ON THE WEBSITE OF SUCH INSTITUTION; AND (C) IN SUCH INSTITUTION'S CATALOGUE. S 2. This act shall take effect on the sixtieth day after it shall have become a law; provided that the provisions of paragraph (c) of subdivision 2 of section 6406 of the education law added by section one of this act shall take effect July 1, 2013.EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00533-02-2