Trenton – Factoring in private scholarships when determining financial aid would be prohibited by legislation passed by the Senate Higher Education Committee today. The bill is sponsored by Senator Troy Singleton.
“The expense of a college degree is cost-prohibitive for most families in New Jersey. Securing financial aid and scholarships is absolutely necessary to obtain this higher education,” said Senator Singleton (D-Burlington). “However, currently, colleges are allowed to take financial aid away from students who receive outside scholarships. This is an abhorrent practice that prevents students from having the least amount of student debt coming out of college, and it must come to an end.”
Outside, private scholarships can be defined as any scholarship not given by the school. The scholarship could come from a business, a nonprofit or a family foundation.
The bill, S-985, was released from committee by a vote of 4-0-1.