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A BILL TO BE ENTITLED
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AN ACT
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relating to uniform financial aid award notification for students |
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and prospective students of public institutions of higher |
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education. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter C, Chapter 61, Education Code, is |
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amended by adding Section 61.0885 to read as follows: |
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Sec. 61.0885. UNIFORM FINANCIAL AID NOTIFICATION. (a) The |
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board by rule shall: |
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(1) require each institution of higher education to |
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notify any student or prospective student regarding the |
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institution's financial aid award offered to the student for |
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attendance at the institution; and |
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(2) prescribe a common financial aid notification form |
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to be used for that notice regardless of whether the notice is |
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delivered to the student by mail or electronically. |
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(b) A notice provided using the common financial aid |
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notification form prescribed by the board under this section must: |
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(1) be suitable for printing, whether delivered by |
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mail or electronically; and |
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(2) include, in a clear, concise, and uniform manner, |
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the following information: |
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(A) an itemized list of all financial aid offered |
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to the student for attendance at the institution, including any |
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financial aid offered by any department, school, or office of the |
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institution, separated according to the following four categories: |
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(i) gift aid, including grants, |
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scholarships, and tuition exemptions or waivers; |
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(ii) student loans; |
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(iii) work-study opportunities; and |
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(iv) any other form of financial aid |
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available to the student; |
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(B) the institution's reasonable estimation of |
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the total amount of tuition and fees to be charged to the student |
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for attendance at the institution and a comparison of that |
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estimated amount to the total amount of gift aid available to the |
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student under Paragraph (A)(i); |
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(C) the institution's reasonable estimation of |
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the student's: |
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(i) total cost of full-time attendance at |
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the institution, including tuition and fees, room and board costs, |
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book and supply costs, transportation costs, and other personal |
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expenses; |
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(ii) expected family contribution; and |
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(iii) net financial need; and |
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(D) a clear explanation of the institution's |
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policies and timelines for accepting or declining the financial aid |
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award. |
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(c) A private or independent institution of higher |
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education may use the common financial aid notification form |
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prescribed by the board under this section to notify students and |
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prospective students regarding the institution's financial aid |
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award offered to a student for attendance at the institution. |
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(d) An institution of higher education may but is not |
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required to use the common financial aid award notification form |
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prescribed by the board under this section for the notification of |
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financial aid awards for an academic year before the 2011-2012 |
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academic year. This subsection expires September 1, 2011. |
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SECTION 2. The Texas Higher Education Coordinating Board |
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shall adopt the rules required by Section 61.0885, Education Code, |
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as added by this Act, as soon as practicable after this Act takes |
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effect. For that purpose, the coordinating board may adopt the |
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initial rules in the manner provided by law for emergency rules. |
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SECTION 3. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2009. |