An Act relative to higher education financial literacy counseling

This bill requires public higher education institutions in Massachusetts to provide financial literacy counseling to all accepted students before they arrive on campus. The counseling must cover student loans and all education expenses, including tuition, housing, books, and transportation, along with available financial aid options like grants and work-study. Institutions must also offer a standardized college financing plan developed by federal agencies (CFPB and U.S. Department of Education), which details estimated costs and funding sources. The plan can be provided electronically in printable format, and the Board of Higher Education is authorized to create rules for implementation. This directly affects public colleges and their incoming students.