General Assembly Substitute Bill No. 972
January Session, 2017 *_____SB00972HED___031717____*
General Assembly
Substitute Bill No. 972
January Session, 2017
*_____SB00972HED___031717____*
AN ACT CONCERNING TUITION INTEGRITY AT FOR-PROFIT INSTITUTIONS OF HIGHER EDUCATION.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. (NEW) (Effective July 1, 2017) (a) Each for-profit institution of higher education licensed to operate in this state shall not expend less than fifty per cent of all federal Pell grant awards and federal student loan dollars received as part of student tuition on student instruction. Such institutions shall not expend more than fifteen per cent of all federal Pell grant awards and federal student loan dollars received as part of student tuition on institutional advertising.
(b) No for-profit institution of higher education licensed to operate in this state shall: (1) Offer any program of instruction that is not accredited and is in a field that requires accreditation for licensing purposes; (2) enroll any student who has been convicted of a crime in a program for a field in which employment cannot be attained due to such conviction; (3) discourage any student from borrowing from a lender of their choice; (4) advise any student to borrow private loans prior to exhausting all federal loan options; or (5) advise any student to borrow from an institutional lender when the institution reasonably knows such student will be unable to meet the obligations of the loan agreement.
This act shall take effect as follows and shall amend the following sections:
Section 1 July 1, 2017 New section
This act shall take effect as follows and shall amend the following sections:
Section 1
July 1, 2017
New section
HED Joint Favorable Subst.
HED
Joint Favorable Subst.