This bill mandates that tuition aid grant amounts for students enrolled in independent institutions of higher education be equal to those for students enrolled in four-year public institutions of higher education. It specifies that the Tuition Aid Grant award table, established by the Higher Education Student Assistance Authority, must ensure that the grant values awarded to full-time students based on financial need are the same across both types of institutions. However, the total grant awarded cannot exceed the actual cost of tuition at the four-year public institution.

The legislation aims to rectify the current disparity in tuition aid grant values, which often results in lower awards for students attending State colleges and public research universities compared to their peers in independent institutions. By equalizing these grant amounts, the bill seeks to provide fair financial support to approximately 65,000 to 70,000 students in the 2025-2026 academic year, ensuring that those with similar financial needs receive equal assistance regardless of their chosen institution. The bill is set to take effect immediately and will first apply to the academic year following its enactment.