NC fund would repay if for-profit schools fail

RALEIGH, N.C. (AP) - North Carolina lawmakers have decided to set up a fund that could compensate students at a proprietary school that closes its doors before their studies are finished.

By: Associated Press | WNCT
Published: August 07, 2009

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RALEIGH, N.C. (AP) - North Carolina lawmakers have decided to set up a fund that could compensate students at a proprietary school that closes its doors before their studies are finished.
The Senate voted 43-0 on Friday for final approval of a trust fund to compensate students at for-profit businesses that provide education and training.
Proprietary schools are regulated by the state's community college system and include about 60 business colleges, art institutes, and technology academies.
The schools will pay into the fund, which aims to give students an extra measure of confidence. Students would be compensated if they lose tuition, fees, or other instructional expenses due to the business failing.