NJ S3820

Higher education institutions and degree-granting proprietary institutions contracting with online program managers (OPMs) must submit annual expenditure reports to the Secretary of Higher Education detailing total payments, number of students receiving state financial aid enrolled in OPM-serviced programs, and per-student state operating aid amounts

OPMs must provide institutions with annual reports breaking down expenditures by category: advertising/marketing, recruiting/admissions/financial services, instruction, student support, technology, and curriculum development

Institutions must submit copies of OPM contracts to the Secretary of Higher Education within 60 days of execution, renewal, substantive changes, or the act's effective date for existing contracts

Annual expenditure reports will be published on the Office of the Secretary of Higher Education's website, though confidential or proprietary information certified by general counsel or chief financial officers will be exempt from public disclosure

The Secretary of Higher Education is authorized to adopt rules and regulations to implement these requirements