College Financing Literacy Act establishment provision

SF 2932 requires Minnesota's commissioner of higher education to create a standard financial aid offer form for colleges and universities receiving state grant aid. Starting in the 2027-2028 academic year, these institutions must use this uniform form to present all financial aid offers to students, including clear breakdowns of total costs (tuition, fees, housing, books, etc.), non-repayable grants/scholarships by source, and net price. The form must be consumer-friendly, list costs first, separate grants from loans, and include specific disclosures about aid conditions. This affects all Minnesota higher education institutions receiving state funding and aims to improve transparency for students navigating financial aid offers.