An Act relative to higher education financial literacy counseling

This bill requires Massachusetts public and private institutions of higher education to provide financial literacy counseling to accepted students about student loans and related expenses upon campus arrival. It mandates that institutions offer a standardized College Financing Plan developed by federal agencies, detailing all costs (tuition, housing, books, etc.) and available aid (grants, scholarships, loans). The plan must be provided electronically in a printable format, and the Board of Higher Education may create implementing regulations. The bill directly affects all institutions receiving state higher education funding and their incoming students.