“Cost of attendance” means cost of attendance as defined pursuant to 20 U.S.C. § 1087ll.

“Expected family contribution” means expected family contribution as determined pursuant to 20 U.S.C. § 1087nn.

“Financial need” means cost of attendance minus expected family contribution.

“Institutional financial aid” means need-based and merit-based grants, scholarships, tuition waivers, and all other forms of financial assistance provided by a public institution of higher education that are not loans or work-study programs.

“Private scholarships” means scholarships awarded by businesses, private foundations, nonprofit organizations, and service groups. Private scholarships shall not include awards funded by a private organization which is affiliated with a public institution of higher education and requests the institution’s assistance in selecting the recipients of scholarships.

L.2021, c.223, s.1.