HI SB2287

Removes the requirement that private colleges and universities demonstrate "profitability" when proving financial integrity to the Department of Commerce and Consumer Affairs; institutions must still maintain positive equity and other financial standards.

Requires private colleges and universities to maintain a composite score of at least 1.5 on equity, primary reserve, and net income ratios as defined in federal regulations.

Repeals Hawaii Revised Statutes section 304A-3153, which authorized the Higher Education Commission to establish procedures for receiving and responding to complaints about institutions of higher education in the state.

Effective upon approval.