An Act To Require Postsecondary Institutions To Meet the Expected Family Contribution without Additional Loan Burdens for Students

CONCEPT DRAFT SUMMARY

This bill is a concept draft pursuant to Joint Rule 208.

This bill proposes to require postsecondary institutions to meet the expected family contribution without additional loan burdens on students. The expected family contribution is an index number that postsecondary institutions use to determine how much financial aid a student would receive annually if the student were to attend that postsecondary institution. Included in financial aid packages are federal Stafford loans, which are fixed-rate student loans originated by the Federal Government. This bill is designed to limit exposure of a student's loan burden to federal Stafford loans only.