New Jersey § 34:15c-10

§ 34:15c-10.

a. A private career school shall enter into a school-to-school teach-out agreement

at least 120 days prior to the cessation of school operations. b. In order to satisfy the requirements of this section, a school-to-school teach-out

agreement shall: (1) be arranged by the closing private career school; (2) be agreed to by an eligible transfer institution, the closing private career school,

and the commissioner; and (3) unless waived for good cause by the commissioner, specify that the eligible transfer

institution shall: (a) be located within a reasonable distance of the closing school, if the closing

school has a physical presence in the State; (b) accept the transfer of all completed credits from students affected by the closure;

and (c) allow a student affected by the closure to complete the student's program with

substantially the same number of credit hours as was required by the closing school;

and (4) not charge a student tuition or fees in excess of the lesser of: (a) the remaining amount that a student affected by the closure would have paid to

the closing school to complete the program; or (b) the transfer institution's applicable tuition and fees; and (5) specify that, on request by a student affected by the closure, the closing school

shall provide a complete academic record and an official transcript to the student

at no cost to the student.