This bill seeks to expand New Jersey's Tuition Aid Grant (TAG) program by including part-time undergraduate students, thereby broadening access to financial assistance. It amends N.J.S.18A:71B-20 to ensure that eligible part-time students receive annual State tuition aid grants, similar to those available for full-time students. The legislation also introduces the New Jersey Student Affordability, Completion, and Equity Pilot Program, which will provide grants for non-tuition expenses such as housing, food, and transportation, as well as funding for institutions to enhance advising services aimed at improving student completion and equity.

The bill outlines specific eligibility criteria for both student and institution grants, ensuring targeted support for those in need. It mandates that the Higher Education Student Assistance Authority administer student grants, while the Secretary of Higher Education oversees institution grants. Additionally, the bill requires that student grants be applied to non-tuition costs before any other forms of aid and limits eligibility to undergraduate students, excluding proprietary institutions. Both the Secretary and the Executive Director must report annually on the programs' impacts, including metrics on college persistence and completion rates, with the Legislature responsible for appropriating necessary funds until the pilot program concludes.