The Maryland Senate on Tuesday unanimously approved legislation to increase regulation of for-profit colleges, The Baltimore Business Journal reported. Among other things, the legislation would authorize the Maryland Higher Education Commission to create a fund, to be financed by all the for-profit colleges operating in the state, that would reimburse students enrolled at for-profit colleges that close or enter bankruptcy.
- As for-profit education sector faces financial woes and greater regulatory scrutiny, banks gain influence over colleges
- For-profit Anthem Education abruptly closes campuses after filing bankruptcy
- In the Crosshairs?
- Ky. Attorney General Jack Conway battles for-profits
- University that went bankrupt amid tighter federal scrutiny looks to collect money from former students
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