Earl N. Williams, Sr., First Chance Act

This bill amends the Higher Education Act of 1965 to establish new financial assistance options within the Student Support Services program, aiming to help eligible students overcome economic barriers to college completion. It introduces both basic supplemental living assistance grants for anticipated expenses and emergency supplemental living assistance grants for unanticipated costs that could hinder a student's persistence in college. Institutions would determine the division of funds between these grant types and the amounts awarded, with emergency grants capped at $500 for the 2027-2028 academic year, adjusted annually for inflation. These grants can cover a wide array of expenses, including components of the cost of attendance, dependent care, transportation, and personal items not typically covered by other aid. A maximum of two percent of the Student Support Services program funds, or excess funds, may be allocated for these grants, which are designed to supplement, not supplant , non-Federal funds. While these grants generally won't impact a student's eligibility for other financial aid, institutions must ensure consultation between their student support service program and financial aid offices.