New Jersey Statutes 18A:3B-90. Definitions relative to post-secondary education
Terms Used In New Jersey Statutes 18A:3B-90
- Contract: A legal written agreement that becomes binding when signed.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Higher education: means that education which is provided by any or all of the public institutions of higher education as herein defined and any or all equivalent private institutions. See New Jersey Statutes 18A:1-1
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
“Closure” means the cessation of operations by an institution of higher education or a proprietary institution licensed to offer academic degrees.
“Secretary” means the Secretary of Higher Education.
“Disorderly closure” means a closure that does not meet the requirements of P.L.2021, c.27 (C. 18A:3B-90 et al.).
“Eligible transfer institution” means an institution of higher education or a proprietary institution licensed to offer academic degrees that has been approved by the secretary pursuant to section 10 of P.L.2021, c.27 (C. 18A:3B-94).
“Institutional debt” means:
(1) the amount outstanding on any credit, including unpaid charges, extended by or on behalf of an institution of higher education or a proprietary institution licensed to offer academic degrees that a student is obligated to repay, whether the amount has been reduced to a judgment or the institution classifies it as a loan; or
(2) a nonfederal loan or debt agreement that is issued expressly for postsecondary education expenses and that is guaranteed by an institution of higher education or a proprietary institution or a private educational lender that is affiliated with an institution of higher education or a proprietary institution.
“Institutional financial aid agreement” means any contract, promissory note, part of an enrollment agreement, or other agreement in which a student agrees to pay an institutional debt.
“Orderly closure” means a closure that meets the requirements of P.L.2021, c.27 (C. 18A:3B-90 et al.).
“Student” means an individual enrolled at an institution of higher education or a proprietary institution licensed to offer academic degrees in New Jersey, or a New Jersey resident enrolled at an institution of higher education or proprietary institution located outside of this State.
“Teach-out agreement” means a written agreement between institutions that provides for the equitable treatment of students and a reasonable opportunity for students to complete their program of study if an institution, or an institutional location that provides 100 percent of at least one program offered, ceases to operate before all enrolled students have completed their program of study.
“Teach-out plan” means a written plan developed by the institution that provides for the equitable treatment of students if an institution, or an institutional location, ceases to operate before all students have completed their program of study, and may include, if required by the institution’s accrediting agency, a teach-out agreement between institutions.
L.2021, c.27, s.6.