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Higher Education Student Assistance Authority Announces New Data on Summer 2023 Financial Aid

TRENTON – Today, New Jersey’s Higher Education Student Assistance Authority (HESAA) released new data about an initiative that is making postsecondary education more affordable in the Garden State.

Through a pilot providing eligible students Tuition Aid Grant awards during 2023 summer terms (“Summer TAG”), more than 11,000 students who enrolled in summer courses received additional financial aid awards that totaled more than $24 million – helping students graduate faster with less student loan debt. The State’s Summer TAG awards promote student success in combination with federal need-based aid. A 2023 study on the federal Year-Round Pell grant program found that students receiving summer grants take less time to graduate, avoid summer learning loss, and earn higher wages.   

Enhancements to Financial Aid for Postsecondary Students

1. Both of New Jersey’s College Promise programs, the Community College Opportunity Grant and the Garden State Guarantee, were expanded in the 2023-2024 academic year to cover students from families with annual adjusted gross incomes up to $100,000 – an increase from the $80,000 cap in the 2022-2023 academic year.
2. HESAA estimates that nearly 35,000 students will benefit from College Promise programs starting this semester, including 4,500 students expected to benefit from the increased eligibility threshold – many of whom were not previously eligible for any financial aid.
3. The 2024 budget continues the Summer TAG pilot for a second year, making students eligible to receive additional aid during the summer terms at the end of the 2023-2024 academic year.

Quotes from Officials

• “Access to a high-quality postsecondary education is key to cultivating an educated workforce and increasing opportunities for many New Jerseyans. The steps our Administration is taking to create pathways to an affordable degree are yielding positive results for both current and aspiring students,” said Governor Phil Murphy.
• “New Jersey is broadening opportunities for more students than ever before through recent expansions to financial aid,” said David J. Socolow, Executive Director of HESAA.
• “Summer financial aid gives students a boost by creating more opportunities for them to affordably progress toward on-time or accelerated degree completion,” said Dr. Brian Bridges, Secretary of Higher Education.
• “Expanding New Jersey’s Tuition Aid Grant program to include the summer semester has been a game-changer,” said Senate Majority Leader Teresa Ruiz.
• “It is our foremost commitment to enhance accessibility and affordability in higher education for every community in New Jersey,” said Assemblywoman Linda Carter.
• “During the 2023 summer session, we witnessed the tremendous difference the tuition aid grant program, known as TAG, had in the lives of over 11,000 New Jersey students and their families,” said Assemblywoman Mila Jasey, Chair of the Assembly Higher Education Committee.

To learn more about state financial aid resources and information for New Jersey students, visit www.hesaa.org.

SDGs, Targets, and Indicators

1. Which SDGs are addressed or connected to the issues highlighted in the article?

• SDG 4: Quality Education
• SDG 8: Decent Work and Economic Growth
• SDG 10: Reduced Inequalities
• SDG 17: Partnerships for the Goals

The article discusses initiatives and enhancements to financial aid programs in New Jersey that aim to make postsecondary education more affordable and accessible. These efforts align with SDG 4, which focuses on quality education. Additionally, the article mentions financial incentives for students in high-need fields and the goal of reducing inequalities, which are connected to SDG 8 and SDG 10 respectively. The emphasis on partnerships and collaboration in implementing these initiatives also relates to SDG 17.

2. What specific targets under those SDGs can be identified based on the article’s content?

• Target 4.3: By 2030, ensure equal access for all women and men to affordable and quality technical, vocational, and tertiary education, including university.
• Target 8.6: By 2020, substantially reduce the proportion of youth not in employment, education, or training.
• Target 10.1: By 2030, progressively achieve and sustain income growth of the bottom 40% of the population at a rate higher than the national average.
• Target 17.14: Enhance policy coherence for sustainable development.

The article’s content highlights efforts to provide financial aid and support to students pursuing postsecondary education, which aligns with Target 4.3. The mention of financial incentives for students in high-need fields and the goal of reducing inequalities correspond to Target 8.6 and Target 10.1 respectively. The emphasis on policy coherence and collaboration in implementing these initiatives relates to Target 17.14.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

• Number of students enrolled in postsecondary education programs
• Number of students receiving financial aid for summer courses
• Number of students benefiting from financial incentives for serving in key occupations
• Number of students benefiting from financial supports for high-need fields
• Number of students from families with annual adjusted gross incomes up to $100,000 benefiting from College Promise programs
• Number of students benefiting from increased eligibility threshold for financial aid
• Implementation of policies and programs to enhance accessibility and affordability in higher education

The article mentions several indicators that can be used to measure progress towards the identified targets. These indicators include the number of students enrolled in postsecondary education programs, the number of students receiving financial aid for summer courses, the number of students benefiting from financial incentives for serving in key occupations, the number of students benefiting from financial supports for high-need fields, the number of students from families with annual adjusted gross incomes up to $100,000 benefiting from College Promise programs, the number of students benefiting from increased eligibility threshold for financial aid, and the implementation of policies and programs to enhance accessibility and affordability in higher education.

4. SDGs, Targets, and Indicators