Student Protection: Court-Ordered Receivership as Higher Education Ownership Change
The Student Protection Act expands the definition of a change of ownership for higher education institutions to include situations where a court appoints a receiver. This means that if a college faces financial difficulties and its management is taken over by a receiver, students can expect additional protection mechanisms, similar to those in place for other ownership changes. The goal is to ensure greater stability and security for students.
Key points
Includes court-ordered receivership as an official form of change of ownership for higher education institutions.
Increases student protection in cases of financial or management issues at colleges.
Status:
Expired
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