UCLA Labor Center recommends adjusting financial aid formulas for regional cost of living

The Assembly Committee on Economic Development, Growth, and Household Impact convened on August 15, 2025, to discuss key issues affecting California's economy and its residents. The meeting focused on the need for adjustments in financial aid formulas to better align with regional cost of living data.

During the session, a significant point raised was the importance of updating financial aid structures to reflect the varying costs of living across different regions in California. This adjustment aims to ensure that financial assistance keeps pace with economic changes and supports residents effectively. The committee acknowledged the contributions of Hina and the UCLA Labor Center in providing valuable insights for this discussion.

The meeting underscored the necessity of adapting financial policies to meet the evolving economic landscape, emphasizing the committee's commitment to addressing household impacts through informed decision-making. As the session concluded, members expressed the need for continued collaboration and research to refine financial aid strategies in the future.