Bill Text: NY S07857 | 2023-2024 | General Assembly | Introduced

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Bill Title: Directs the higher education services corporation to create a net price calculator center for colleges on its website.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-01-03 - REFERRED TO HIGHER EDUCATION [S07857 Detail]

Download: New_York-2023-S07857-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          7857

                    IN SENATE

                                     January 3, 2024
                                       ___________

        Introduced by Sen. GOUNARDES -- read twice and ordered printed, and when
          printed to be committed to the Committee on Higher Education

        AN ACT to amend the education law, in relation to a net price calculator
          center for colleges

          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  689-b
     2  to read as follows:
     3    §  689-b.  Net  price  calculator  center. 1. For the purposes of this
     4  section:
     5    (a) "Estimated cost of attendance" shall mean the  total  amount,  not
     6  including  grants  and  scholarships, that it costs to attend a college,
     7  which may include, among other expenses, tuition and fees,  housing  and
     8  meals,  allowances  for  books,  supplies, transportation, and dependent
     9  care.
    10    (b) "Net price" shall mean the estimated cost of attendance at a given
    11  college after accounting for financial aid which does not require repay-
    12  ment.
    13    (c) "Net price calculator" shall mean a tool to calculate net price at
    14  a college.
    15    2. (a) The president shall,  in  conjunction  with  the  commissioner,
    16  create a net price calculator center which provides a net price calcula-
    17  tor  tool  for  all  colleges  in  this state. Such net price calculator
    18  center shall be prominently displayed on and easily accessed through the
    19  corporation's website.
    20    (b) The president and commissioner may  incorporate  information  from
    21  existing net price calculators on a college's website when designing the
    22  net price calculator tool to be hosted on the corporation's website, but
    23  such calculator shall exist as a singular calculator able to provide net
    24  prices  for  all  colleges in the state rather than linking to net price
    25  calculators on each individual college's website.
    26    (c) Such calculator tool shall  require  a  user  to  enter  household
    27  income,  assets, and other pertinent information at the onset of the use
    28  of such tool and then shall use such information to produce an estimated

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13321-02-3
        S. 7857                             2

     1  net price for any college in this state. Such tool shall not require the
     2  user to enter such information anew for each estimate that such calcula-
     3  tor produces.
     4    (d)  The  president  and  commissioner  shall  utilize the tuition and
     5  related cost information  most  recently  reported  by  a  college  when
     6  designing  the  net  price  calculator  described  herein.  If a college
     7  updates its estimated cost of  attendance,  either  on  its  website  or
     8  otherwise, the net price calculator shall incorporate such updated costs
     9  into its calculations.
    10    §  2.  This  act shall take effect on the ninetieth day after it shall
    11  have become a law. Effective immediately, the addition, amendment and/or
    12  repeal of any rule or regulation necessary  for  the  implementation  of
    13  this  act  on its effective date are authorized to be made and completed
    14  on or before such effective date.