Earlier this week the Maryland State Senate, rather busy with higher education changes lately, unanimously approved some rather novel legislation to manage for-profit colleges.
According to a piece in the Baltimore Business Journal:
The bill would require for-profit and career schools to report things like enrollment numbers and graduation and retention rates, which other Maryland private and public schools are already required to do.
The bills… would allow the state’s higher education commission to create a fund that would reimburse students’ tuition if a for-profit school closes or goes bankrupt. Under the bill, every for-profit college in Maryland would be required to contribute to the fund.
The state currently has no regulations specifically covering for-profit colleges.
According to the Washington Examiner, the bill would also prohibit for-profit colleges from receiving any state-based financial aid.
The bill now goes to the Maryland House of Delegates. [Image via]