New York A04897 mandates the higher education services corporation to determine student financial aid eligibility within 60 days of application.
New York A04897 requires the higher education services corporation to determine a student's financial eligibility for aid, awards, and loans within 60 days of receiving a completed financial aid application. If the corporation fails to make a timely determination, the student is automatically deemed eligible for aid for the semester in question. The corporation can request a 30-day extension if notified within the initial 60-day period. This act aims to ensure timely financial aid decisions for students.
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