Relating to oversight of programs offering academic degrees; and declaring an emergency.
Catchline/Summary:
Requires each school obtaining approval from Higher Education Coordinating Commission to offer academic degree to annually obtain bond or letter of credit demonstrating school is financially sound and capable of fulfilling commitments to students. Requires each school obtaining approval from Higher Education Coordinating Commission to offer academic degree to annually obtain bond or letter of credit demonstrating school is financially sound and capable of fulfilling commitments to students. Establishes requirements for bonds and letters of credit.
Grants students right to bring claim against school, bond or letter of credit if student suffers monetary loss due to school's failure to provide instruction.
Establishes process for commission to place school or program on probation or to revoke approval for school to offer academic degrees.
Declares emergency, effective on passage.
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HB 3516
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