Establishes a tuition reimbursement program for students in private career schools in New Jersey.

The bill establishes a tuition reimbursement program for students in private career schools in New Jersey. It mandates that private career schools obtain a performance bond payable to the Commissioner of Labor and Workforce Development. Schools must contribute to a Private Career School Student Tuition Protection Fund, managed by the State Treasurer, to ensure refunds for students in case of school closure. The fund is nonlapsing and revolving, ceasing contributions when it reaches $2.5 million but resuming if it drops below $2 million.

Establishes a tuition reimbursement program for students in private career schools in New Jersey.

The bill establishes a tuition reimbursement program for students in private career schools in New Jersey. It mandates that private career schools obtain a performance bond payable to the Commissioner of Labor and Workforce Development. Schools must contribute to a Private Career School Student Tuition Protection Fund, managed by the State Treasurer, to ensure refunds for students in case of school closure. The fund is nonlapsing and revolving, ceasing contributions when it reaches $2.5 million but resuming if it drops below $2 million.