This bill amends the Public School Code of 1949 to enhance exit counseling requirements for students in higher education. It specifies that each institution of higher education that receives information about federal or other student loans requiring repayment must provide financial aid counseling to students at the end of their final academic term, unless the student opts out of participation. This change replaces the previous language that implied participation was optional without a selection process.

Additionally, the bill addresses counseling for students who transfer or withdraw from an institution without prior notice. It mandates that institutions attempt to provide financial aid counseling to these students unless they have federal or other student loans that do not require repayment. If the institution cannot contact the student, it is required to send the relevant information to the student's last known address. The act will take effect 60 days after its passage.