Bill > HB708

This bill requires institutions of postsecondary education in Maryland to submit an annual report to the Maryland Higher Education Commission on their institutional debt. The report must include details such as the total amount of institutional debt, the demographic breakdown of students with debt, the status of debt collection efforts, and information about administrative holds placed on student accounts. The Commission can impose a civil penalty of up to $10,000 per violation if an institution fails to submit the report or knowingly includes inaccurate information. The bill establishes notice, appeal, and hearing procedures that the Commission must follow before assessing a penalty. The reporting requirement begins in 2025.

Budget and Finance

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0708?ys=2024RS