Committee hears bill to raise student indemnification fund cap to $750,000
The Assembly Committee on Education heard AB164, sponsored by Assemblyman PK O'Neil, which would raise the cap on Nevada's Account for Student Indemnification from $250,000 to $750,000 to cover refunds for students when a licensed private postsecondary institution unexpectedly closes.
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Assemblyman PK O'Neil presented Assembly Bill 164 to the Assembly Committee on Education in a hearing held with members and the public in Carson City and Las Vegas. The measure would raise the cap on the Account for Student Indemnification, which compensates students who paid tuition out of pocket when a licensed private postsecondary institution closes, from the current $250,000 to $750,000.
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