(a) By January 1, 2020, and permanently thereafter, each institution subject to this chapter that participates in federal student financial aid programs, including, but not necessarily limited to, those programs authorized by Title IV of the federal Higher Education Act of 1965 or veterans’ financial aid programs authorized pursuant to Section 21.4253 of Title 38 of the Code of Federal Regulations, shall provide students with the Financial Aid Shopping Sheet as developed by the United States Department of Education to inform students or potential students about financial aid award packages prior to enrollment.
(b) In implementing this section, an institution that is subject to this chapter that participates in federal student financial aid programs, including, but not necessarily limited to, those programs authorized by Title IV of the federal Higher Education Act of 1965 or veterans’ financial aid programs authorized pursuant to Section 21.4253 of Title 38 of the Code of Federal Regulations, may seek guidance as needed from the United States Department of Education.