Bill > S136

This bill establishes a Student Tuition Recovery Fund, administered by the Division of Professional Licensure, to reimburse students who are financially harmed by private occupational schools that cease operations, fail to fulfill contractual obligations, or violate licensing rules. The fund will be financed through annual assessments on these schools, with an initial payment of $2,500 for newly approved schools and a subsequent payment of 0.25% of total tuition and fees for operating schools, with a minimum annual payment of $250. Students can file claims within one year of a school ceasing operations, and the Division will investigate and pay valid claims up to the amount of actual damages sustained. The fund will not revert to the General Fund at the end of the fiscal year, and schools that fail to pay assessments may have their licenses revoked.