This bill aims to enhance financial support for students in New Jersey by increasing the income-based eligibility for the Community College Opportunity Grant Program and establishing the Garden State Guarantee Program. The Community College Opportunity Grant Program will now allow students with an annual adjusted gross income of up to $100,000 to qualify for financial aid, an increase from the previous threshold of $65,000. The bill also permits the Higher Education Student Assistance Authority to create additional eligibility tiers for students exceeding this income limit.

The newly codified Garden State Guarantee Program will provide last-dollar financial aid grants to eligible students in their third and fourth years of study at four-year public institutions. To qualify, students must meet several criteria, including being a legal resident or eligible for state financial aid, maintaining a minimum income threshold, and being enrolled in at least 12 credits. Grants will cover the net cost of tuition and approved educational fees for up to 18 credits per semester, with the authority required to set a maximum individual grant amount that cannot increase by more than three percent annually.

Statutes affected:
Introduced: 18A:71B-113