BILL REQ. #:  H-1645.1 

READ FIRST TIME 02/25/13.   

     AN ACT Relating to evaluating compliance and performance for participation in financial aid programs; and amending RCW 28B.92.050.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

Sec. 1   RCW 28B.92.050 and 2011 1st sp.s. c 11 s 161 are each amended to read as follows:
     The office shall have the following powers and duties:
     (1) Conduct a full analysis of student financial aid as a means of:
     (a) Fulfilling educational aspirations of students of the state of Washington((,)); and
     (b) Improving the general, social, cultural, and economic character of the state.
     Such an analysis will be a continuous one and will yield current information relevant to needed improvements in the state program of student financial aid. The office will disseminate the information yielded by their analyses to all appropriate individuals and agents.
     (2) Monitor compliance of participating institutions of higher education with financial aid program rules and regulations, and evaluate continued participation based on performance, including but not limited to administrative capability, electronic systems, standing with accreditation bodies, and standing with the United States department of education, including collection of additional data from for-profit institutions necessary to evaluate the ability of the institution to meet commitments to students receiving state aid.
     (3) Provide training and assistance to institutions of higher education regarding financial aid program rules and regulations.
     (4) Impose conditions or terminate the participation of an institution of higher education in state financial aid programs if the institution of higher education puts state funds at risk or fails to comply with program rules and regulations, as determined by the council.
     (5) Develop rigorous standards for review for participation of new institutions of higher education in state financial aid programs.
     (6) Design a state program of student financial aid based on the data of the study referred to in this section. The state programs will supplement available federal and local aid programs. The state programs of student financial aid will not exceed the difference between the budgetary costs of attending an institution of higher education and the student's total resources, including family support, personal savings, employment, and federal, state, and local aid programs.
     (((3))) (7) Determine and establish criteria for financial need of the individual applicant based upon the consideration of that particular applicant. In making this determination the office shall consider the following:
     (a) Assets and income of the student((.));
     (b) Assets and income of the parents, or the individuals legally responsible for the care and maintenance of the student((.));
     (c) The cost of attending the institution of higher education the student is attending or planning to attend((.)); and
     (d) Any other criteria deemed relevant to the office.
     (((4))) (8) Set the amount of financial aid to be awarded to any individual needy or disadvantaged student in any school year.
     (((5))) (9) Award financial aid to needy or disadvantaged students for a school year based upon only that amount necessary to fill the financial gap between the budgetary cost of attending an institution of higher education and the family and student contribution.
     (((6))) (10) Review the need and eligibility of all applications on an annual basis and adjust financial aid to reflect changes in the financial need of the recipients and the cost of attending the institution of higher education.