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Utah Senate approves bond requirement to protect students at proprietary postsecondary schools
Summary
The Utah Senate passed Senate Bill 80 to allow the Board of Regents to require bonds from proprietary postsecondary schools sized to advanced tuition and risk; supporters cited past school closures that left students without recourse, while opponents warned of potential conflicts of interest in regulator choice.
The Utah Senate on Jan. 20 passed Senate Bill 80, an amendment to the postsecondary proprietary school act that lets the Board of Regents require a bond from private proprietary schools to cover advanced tuition, fees or equipment costs if a school fails.
Supporters, led by Senator Hilliard, said the measure responds to instances in which proprietary schools closed and students lost prepaid tuition. Hilliard told colleagues the bill allows regulators to set bond amounts proportionate to the risk — factoring advance-payment levels,…
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