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 of New Jersey, enrolled in at least 12 credits, and having an annual adjusted gross income between $0 and $100,000. Grants will cover the net cost of tuition and approved educational fees for up to 18 credits per semester. The bill also mandates that the authority set a maximum individual grant amount for each institution, which cannot increase by more than three percent annually.

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