HB 2506 Summary

• Licensed private postsecondary institutions must disclose to prospective students at least one week before enrollment: institutional purpose, educational programs, physical facilities, licensure status, accreditation status, fee schedule, student fee retention policies, and credit transferability information.

• Institutions must use reliable methods to assess students' ability to complete their chosen programs before acceptance and provide accurate information about financial assistance, loan repayment obligations, employment placement services, and state licensure requirements.

• Institutions cannot make expressed or implied promises regarding employment placement, market availability, or specific salary amounts, and all advertisements must be accurate and not misleading.

• Institutions offering academic degrees that are not accredited by U.S. Department of Education-recognized agencies must provide a written disclosure in large bold capital letters stating they are not accredited, which prospective students must sign before enrollment.

• The State Board for Private Postsecondary Education must maintain website lists identifying which licensed institutions are accredited and whether accrediting agencies are recognized by the U.S. Department of Education, as well as listing institutions claiming accreditation from unrecognized agencies.