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Bill > S3731
NJ S3731
NJ S3731Establishes Student Tuition Recovery Fund in Office of the Secretary of Higher Education to compensate students impacted by failing or fraudulent proprietary institutions.
summary
Introduced
09/30/2024
09/30/2024
In Committee
10/10/2024
10/10/2024
Crossed Over
Passed
Dead
Introduced Session
2024-2025 Regular Session
Bill Summary
Establishes Student Tuition Recovery Fund in Office of the Secretary of Higher Education to compensate students impacted by failing or fraudulent proprietary institutions.
AI Summary
This bill establishes a Student Tuition Recovery Fund in the Office of the Secretary of Higher Education to compensate students who have suffered economic loss due to the closure or failure of proprietary institutions (for-profit colleges) licensed to offer academic degrees in New Jersey. Proprietary institutions are required to make an initial deposit and ongoing payments into the fund, which will be used to reimburse eligible students for tuition and fees paid. The Secretary of Higher Education is tasked with establishing a process for students to apply for reimbursement and, where possible, to pursue the cancellation or discharge of student loans related to the failed institution.
Committee Categories
Budget and Finance, Education
Sponsors (1)
Last Action
Referred to Senate Budget and Appropriations Committee (on 10/10/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2024/S3731 |
| BillText | https://pub.njleg.gov/Bills/2024/S4000/3731_R1.HTM |
| Analysis - Statement SHI 10/10/24 | https://pub.njleg.gov/Bills/2024/S4000/3731_S1.PDF |
| BillText | https://pub.njleg.gov/Bills/2024/S4000/3731_I1.HTM |
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