New Jersey § 34:15c-10

§ 34:15c-10.

As used in sections 14 through 20 of P.L.2021, c. 27 ( C.34:15C-10.3 through C.34:15C-10.9 ): “ Closure ” means the cessation of operations by a private career school. “ Commissioner ” means the Commissioner of Labor and Workforce Development. “ Disorderly closure ” means a closure that does not meet the requirements of P.L.2021, c. 27 ( C.18A:3B-90 et al.). “ Eligible transfer institution ” means a private career school that has been approved by the commissioner pursuant

to section 17 of P.L.2021, c. 27 ( C.34:15C-10.6 ). “ Institutional debt ” means: (1) the amount outstanding on any credit, including unpaid charges, extended by or

on behalf of a private career school that a student is obligated to repay, whether

the amount has been reduced to a judgment or the school classifies it as a loan;

or (2) a nonfederal loan or debt agreement that is issued expressly for postsecondary

education expenses and that is guaranteed by a private career school or a private

educational lender that is affiliated with a private career school. “ Institutional financial aid agreement ” means any contract, promissory note, part of an enrollment agreement, or other agreement

in which a student agrees to pay an institutional debt. “ Orderly closure ” means a closure that meets the requirements of P.L.2021, c. 27 ( C.18A:3B-90 et al.). “ Private career school ” means a privately owned and privately operated postsecondary school, other than

an institution of higher education or proprietary institution licensed to offer academic

degrees, that furnishes or offers to furnish programs, whether or not requiring a

payment of tuition or fee, for the purpose of training, retraining, or upgrading individuals

for gainful employment as workers in recognized or emerging occupations. “ Student ” means an individual enrolled at a private career school in New Jersey, or a New

Jersey resident enrolled at a private career school located outside of this State. “ Teach-out agreement ” means a written agreement between schools that provides for the equitable treatment

of students and a reasonable opportunity for students to complete their program of

study if a school, or a school location that provides 100 percent of at least one

program offered, ceases to operate before all enrolled students have completed their

program of study. “ Teach-out plan ” means a written plan developed by the school that provides for the equitable treatment

of students if a school, or a school location, ceases to operate before all students

have completed their program of study, and may include, if required by the school's

accrediting agency, a teach-out agreement between schools.