SCHOLARSHIP DISPLACEMENT ACT

Creates the Scholarship Displacement Act. Provides that the Act applies beginning with the 2024-2025 academic year. Provides that a public institution of higher education may reduce a student's institutional financial aid as a result of the awarding of private scholarships to the student only if the student's total financial aid from all sources exceeds the student's financial need until the student's total financial aid no longer exceeds the student's financial need or only if the student is a student-athlete and the institution is complying with the individual or team financial aid restrictions of any athletic association, conference, or other group or organization with authority over intercollegiate athletics. Effective immediately.