NY A02372

Prohibits proprietary institutions of higher education from including mandatory binding arbitration clauses in student enrollment contracts.

Extends the complaint filing deadline from two years to six years for alleged violations, while removing the three-year absolute cap on complaints.

Increases civil penalties for violations from $3,500 to $5,000 for first offenses and from $7,500 to $10,000 for subsequent violations within five years; increases penalties for serious violations from $75,000 to $100,000.

Requires schools to annually submit gainful employment outcome data including average student debt and average adjusted gross income three years after program completion, with schools attesting to data accuracy under penalty of perjury.

Doubles the tuition reimbursement account balance thresholds from $1-1.8 million to $2-2.8 million and allows up to $500,000 annually from assessments to fund additional department staff for regulatory oversight when the account reaches $3 million.