The bill aims to amend existing laws related to postsecondary education financial assistance programs in Arkansas. It introduces new legal language that clarifies the purpose of the act, specifically stating that it is intended to update and improve the regulations governing financial assistance for postsecondary education.

By making these amendments, the bill seeks to enhance the effectiveness and accessibility of financial aid programs for students pursuing higher education. The changes are designed to ensure that the financial assistance provided aligns with current educational needs and standards.