NY A05411

Establishes a proprietary college tuition reimbursement account funded by annual fees assessed to degree-granting proprietary colleges based on gross annual income, ranging from $1,000 (for income under $200,000) to $20,000 (for income $10 million or above).

Allows current and former students of proprietary colleges to file complaints and receive tuition refunds up to the total cost of tuition expended if the college violates Education Law provisions, makes fraudulent statements, or if an owner/operator is convicted of specified felonies.

Requires the Education Department commissioner to investigate student complaints within 20 days and issue findings within 90 days, with violations posted on a publicly accessible website within 30 days of determination.

For closed colleges, students are entitled to full refunds of prepaid tuition and fees; students who withdraw within 30 days before a college closure are eligible for refunds of tuition expended.

Suspends quarterly assessment payments for colleges that have paid at least 16 quarters once the account balance exceeds $3 million, until the balance falls below $2.3 million; allocates up to $200,000 annually for securing student transcripts from closed colleges.