Bill > H627

This bill establishes a Student Tuition Recovery Fund (the "Fund") to be administered by the Attorney General. The Fund will fully reimburse students of for-profit schools who suffer economic losses due to the school's discontinuation of programs, failure to fulfill contractual obligations, or violations of laws and regulations. The bill requires for-profit schools to pay annual assessments into the Fund, based on a percentage of the school's gross tuition and fees. The Attorney General can use the Fund to pursue loan cancellation or discharge, pay claims directly to lenders, and delay claim payments to resolve loan discharge efforts. The Division of Professional Licensure and the Board of Higher Education can revoke a for-profit school's license or approval for failure to pay assessments to the Fund. The bill also allows the Attorney General to seek reimbursement to the Fund from a school for claims paid due to that school's violations.

Education, Labor and Employment

https://malegislature.gov/Bills/190/H627