SENATE HIGHER EDUCATION COMMITTEE

STATEMENT TO

SENATE, No. 3696

with committee amendments

STATE OF NEW JERSEY

DATED:  OCTOBER 10, 2024

      The Senate Higher Education Committee reports favorably and with committee amendments Senate Bill No. 3696.

      This amended bill requires institutions of higher education and proprietary institutions licensed to offer academic degrees to notify the Higher Education Student Assistance Authority of approved federal borrower defense loan discharge.

      Under the amended bill, an institution which receives notice from the United States Department of Education that a former or current student is approved for borrower defense loan discharge under federal law is required to promptly notify the Executive Director of the Higher Education Student Assistance Authority.  The institution is also required to inform the executive director if the student was a resident of the State at the time of the student’s enrollment in the institution.

COMMITTEE AMENDMENTS:

The committee amended the bill to:

· remove the requirement that institutions of higher education and proprietary institutions licensed to offer academic degrees also report the information required under the bill’s provisions to the Secretary of Higher Education; and

· update the bill’s synopsis to reflect committee amendments.