Prohibits independent higher education institutions from collecting financial information from a student's or prospective student's non-custodial parent; requires that private colleges use student financial aid formulas that are arrived at independently, without coordination with outside standard setting organizations.
STATE OF NEW YORK
________________________________________________________________________
786
2025-2026 Regular Sessions
IN ASSEMBLY(Prefiled)
January 8, 2025
___________
Introduced by M. of A. ROSENTHAL -- read once and referred to the
Committee on Higher Education
AN ACT to amend the education law, in relation to prohibiting independ-
ent higher education institutions from collecting financial informa-
tion from a student's non-custodial parent and requiring independent
higher education institutions to make student aid formula determi-
nations independently
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The education law is amended by adding a new section 224-b
2 to read as follows:
3 § 224-b. Collection of financial information from non-custodial parent
4 prohibited; student financial aid formula determinations. 1. No inde-
5 pendent higher education institution in New York state shall collect
6 financial information from a student's or prospective student's non-cus-
7 todial parent for the purpose of determining financial aid awards.
8 2. Student financial aid formulas, including expected family contrib-
9 ution formulas, used by independent higher education institutions in New
10 York state shall be determined independently by such institutions with-
11 out consultation, communication, or participation with any outside stan-
12 dard setting organization.
13 § 2. This act shall take effect on the first of January next succeed-
14 ing the date on which it shall have become a law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD02501-01-5
