HOUSE DOCKET, NO. 1427        FILED ON: 1/14/2025

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No.         

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Bradley H. Jones, Jr.

_________________

To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:

The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act relative to higher education financial literacy counseling.

_______________

PETITION OF:

 

Name:

District/Address:

Date Added:

Bradley H. Jones, Jr.

20th Middlesex

1/14/2025

Kimberly N. Ferguson

1st Worcester

1/15/2025


HOUSE DOCKET, NO. 1427        FILED ON: 1/14/2025

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[Pin Slip]

 

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE HOUSE, NO. 1272 OF 2023-2024.]

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Ninety-Fourth General Court
(2025-2026)

_______________

 

An Act relative to higher education financial literacy counseling.

 

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

SECTION 1. Chapter 15A of the General Laws, as appearing in the 2022 Official Edition, is hereby amended by adding at the end thereof the following new section:-

Section 46. The board of higher education shall have the authority to mandate that each public higher education institution provide financial literacy counseling to accepted applicants of the institution relative to student loans and other expenses to students upon arriving on campus. The board is further authorized to provide a college financing plan developed by the federal consumer financial protection bureau and the United States department of education to said accepted applicants of the institution. College financing plans shall include the estimated cost of attendance including tuition and fees, housing and meals, books and supplies, transportation and other education costs as well as grants and scholarships and work-study and loan options. The public institution of higher education may provide an electronic version of the college financing plan in a printable format. The board of higher education may promulgate regulations to carry out the purposes of this section.