34:15C-10.6 Approval of private career school to act as eligible transfer institution.
17. a. The Commissioner of Labor and Workforce Development shall approve a private career school to act as an eligible transfer institution if the school:
(1) is in good standing with its accreditor and, if applicable, its licensing body;
(2) if applicable, has not been sanctioned by the United States Department of Education due to having a high cohort loan default rate;
(3) has not been placed on Heightened Cash Monitoring Payment Method Level 2 by the United States Department of Education;
(4) within the previous five years, has not entered into any settlement agreements related to a consumer protection law with a law enforcement agency, or had any judgments related to a consumer protection law entered against it in favor of a law enforcement agency; and
(5) meets the requirements provided in section 16 of P.L.2021, c.27 (C.34:15C-10.5), and any additional standards provided pursuant to subsection b. of this section.
b. The commissioner may establish additional standards on a case-by-case basis for approving an eligible transfer institution.
L.2021, c.27, s.17.