N.J. Admin. Code § 9A:1-9.4

Current through Register Vol. 57, No. 1, January 6, 2025

Section 9A:1-9.4 - Contingency plan for closure

(a) If, pursuant to N.J.A.C. 9A:2-1, the Secretary determines that an institution is required to submit a contingency plan for closure to OSHE, the contingency plan for closure, shall include:

1. The requirements of a plan for institutional closure pursuant to N.J.A.C. 9A:1-9.1(a);

2. Information about the rights and responsibilities of student loan borrowers;

3. Information about the institution's financial condition, accreditation status, and any outstanding compliance issues regarding Federal and State student aid programs; and

4. Confirmation that the institution has obtained either a surety bond or letter of credit to refund student enrollment deposits and to pay the cost to maintain student records by a third-party or parties.

N.J. Admin. Code § 9A:1-9.4

Adopted by 54 N.J.R. 433(a), effective 3/7/2022