This bill aims to amend existing laws related to postsecondary education financial assistance programs in Arkansas. The primary purpose of the act is to update and improve the legal framework governing these programs to better serve students and educational institutions.

The new legal language inserted into the current law explicitly states the purpose of the act, which is to enhance the regulations surrounding postsecondary financial assistance. This amendment reflects a commitment to ensuring that financial support for education is effectively managed and accessible to those in need.