This bill allows students to utilize a portion of their tuition aid grant (TAG) or opportunity grant during the summer session following the academic year for courses that meet graduation requirements or contribute credits towards their academic major. Students must notify the Higher Education Student Assistance Authority (HESAA) for TAG or the Office of the Secretary of Higher Education for EOF of their intent to use part of their grant for the summer session. In response, these authorities will adjust the disbursement amounts for the academic year and inform students that this usage will decrease their award amount for each semester. Additionally, the bill stipulates that using these grants for summer sessions will not count against the total number of academic years a student is eligible to receive the grants.

Furthermore, the bill mandates that HESAA and the Secretary of Higher Education report annually on the number of students who opted to use their grants for summer sessions, as well as the graduation rates of those students within 100% and 150% of the normal completion time. This legislation is in line with recommendations from the College Affordability Study Commission, which aimed to enhance access to education and support for students in New Jersey. The act is set to take effect immediately and will first apply to the academic year following its enactment.