AN ACT REQUIRING DISCLOSURE OF SCHOLARSHIP DISPLACEMENT POLICIES AT INSTITUTIONS OF HIGHER EDUCATION.

This bill requires colleges and universities to inform students about their policies on scholarship displacement, which occurs when a student's financial aid is reduced because they receive an outside scholarship. Institutions must include this information in the initial financial aid package given to current and prospective students. Additionally, each school must submit a written report on its specific policies to the state's higher education committee by January 1, 2025. The law aims to increase transparency regarding how outside funding affects a student's total financial aid award.