Passed by the Senate February 11, 2012 YEAS 48   BRAD OWEN ________________________________________ President of the Senate Passed by the House February 27, 2012 YEAS 96   FRANK CHOPP ________________________________________ Speaker of the House of Representatives | I, Thomas Hoemann, Secretary of the Senate of the State of Washington, do hereby certify that the attached is SUBSTITUTE SENATE BILL 6121 as passed by the Senate and the House of Representatives on the dates hereon set forth. THOMAS HOEMANN ________________________________________ Secretary | |
Approved March 7, 2012, 2:39 p.m. CHRISTINE GREGOIRE ________________________________________ Governor of the State of Washington | March 7, 2012 Secretary of State State of Washington |
State of Washington | 62nd Legislature | 2012 Regular Session |
READ FIRST TIME 02/02/12.
AN ACT Relating to financial aid counseling; and adding a new section to chapter 28B.76 RCW.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION. Sec. 1 A new section is added to chapter 28B.76 RCW
to read as follows:
(1) The office must provide a financial aid counseling curriculum
to institutions of higher education with state need grant recipients.
The curriculum must be available via a web site. The curriculum must
include, but not be limited to:
(a) An explanation of the state need grant program rules, including
maintaining satisfactory progress, repayment rules, and usage limits;
(b) Information on campus and private scholarships and work-study
opportunities, including the application processes;
(c) An overview of student loan options with an emphasis on the
repayment obligations a student borrower assumes regardless of program
completion, including the likely consequences of default and sample
monthly repayment amounts based on a range of student levels of
indebtedness;
(d) An overview of financial literacy, including basic money
management skills such as living within a budget and handling credit
and debt;
(e) Average salaries for a wide range of jobs;
(f) Perspectives from a diverse group of students who are or were
recipients of financial aid, including student loans; and
(g) Contact information for local financial aid resources and the
federal student aid ombudsman's office.
(2) By the 2013-14 academic year, the institution of higher
education must take reasonable steps to ensure that each state need
grant recipient receives information outlined in subsection (1)(a)
through (g) of this section by directly referencing or linking to the
web site on the conditions of award statement provided to each
recipient.
(3) By July 1, 2013, the office must disseminate the curriculum to
all institutions of higher education participating in the state need
grant program. The institutions of higher education may require
nonstate need grant recipients to participate in all or portions of the
financial aid counseling.