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A BILL TO BE ENTITLED
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AN ACT
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relating to a requirement that public institutions of higher |
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education provide a student receiving student financial assistance |
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an annual disclosure regarding the status of the student's |
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financial assistance. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter A, Chapter 56, Education Code, is |
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amended by adding Section 56.009 to read as follows: |
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Sec. 56.009. ANNUAL DISCLOSURE OF STUDENT FINANCIAL |
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ASSISTANCE STATUS. (a) As soon as practicable during or following |
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an academic year, an institution of higher education shall provide |
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to each student who received student financial assistance through |
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the institution for attendance at the institution during that |
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academic year a detailed, written disclosure of the type and amount |
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of, and any repayment obligation of the student regarding: |
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(1) the student financial assistance offered to and |
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received by the student; and |
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(2) any student financial assistance available to the |
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student for attendance at the institution in the subsequent |
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academic year. |
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(b) The disclosure must inform the student if the |
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availability or amount of any student financial assistance |
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identified in the disclosure as available to the student is subject |
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to change. |
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(c) The Texas Higher Education Coordinating Board, in |
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consultation with financial aid personnel at institutions of higher |
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education, shall adopt rules for the administration of this |
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section, including rules prescribing the format of the disclosure |
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required by Subsection (a) to ensure its clarity and |
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understandability. |
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SECTION 2. Section 56.009, Education Code, as added by this |
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Act, applies beginning with student financial assistance awarded |
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for the 2014-2015 academic year. |
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SECTION 3. This Act takes effect September 1, 2013. |