New Jersey Senate Bill S3820

New Jersey 2024-2025 Regular Session

• Introduced: 10/24/24
• Refer: 10/24/24

Caption

Requires certain institutions of higher education and degree-granting proprietary institutions to submit certain documentation on online program managers to Secretary of Higher Education.

Impact

The bill is poised to significantly influence the way institutions of higher education manage and disclose their financial interactions with OPMs. By requiring annual expenditure reports that encapsulate total payments, state financial assistance recipients, and related expenditures, the legislation empowers the Secretary of Higher Education to oversee these financial transactions effectively. This oversight will help ensure that state funds are being utilized appropriately, potentially enhancing the quality of online educational offerings.

Summary

Senate Bill 3820, introduced in New Jersey, mandates that institutions of higher education and proprietary degree-granting institutions submit detailed documentation concerning online program managers (OPMs) to the Secretary of Higher Education. This bill aims to improve transparency and accountability in the financial dealings of these institutions with OPMs, essential for managing online degree and certificate programs. The legislation outlines specific reporting requirements for both the educational institutions and the OPMs, ensuring that financial activities are closely monitored.

Contention

A point of contention surrounding SB 3820 may involve concerns over privacy and the designation of certain financial information as 'confidential.' Although the bill mandates transparency, it permits institutions to categorize specific data as confidential, which could lead to debates about the balance between public accountability and protecting proprietary information. Furthermore, stakeholders might voice opinions on the administrative burden this bill places on educational institutions in compliance with the new reporting requirements.