Bill > HB1949

This bill aims to protect students from unfair business practices at for-profit higher education institutions and private vocational schools by establishing an office of the ombuds to assist students with their rights and concerns, including issues arising from school closures or program terminations. It also mandates a study to identify and address overlaps and gaps in regulatory oversight between different agencies governing these institutions, with a focus on improving data collection and reporting to ensure consistency with public institutions. Furthermore, the bill strengthens regulations by prohibiting for-profit institutions from steering students towards specific loan products that financially benefit the institution's owners, unless all other aid options are exhausted, and clarifies what constitutes misleading advertising and unfair business practices, including misrepresenting job placement rates or earnings, and prohibits the use of U.S. military logos in advertising. Institutions will be required to provide students with clear written notice of their rights and complaint procedures, and the bill allows for the denial, revocation, or suspension of authorization for institutions engaging in substantial or significant unfair business practices, with penalties for violations.