It is the policy of this State to encourage and enable its residents to receive an education commensurate with their respective talents and desires. The Legislature recognizes that privately owned institutions offering elementary, secondary and postsecondary education and vocational and professional instruction perform a necessary service to the residents of this State. It is the purpose of this chapter to provide for the protection, education and welfare of the residents of the State of Nevada, its educational, vocational and professional institutions, and its students, by:

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1.  Establishing minimum standards concerning quality of education, ethical and business practices, health and safety, and fiscal responsibility, to protect against substandard, transient, unethical, deceptive or fraudulent institutions and practices;

2.  Prohibiting the granting of false or misleading educational credentials;

3.  Prohibiting the use or attempted use of false or misleading degrees and honorary degrees and the use or attempted use of degrees and honorary degrees in a false or misleading manner;

4.  Regulating the use of academic terminology in naming or otherwise designating educational institutions;

5.  Prohibiting misleading literature, advertising, solicitation or representation by educational institutions or their agents;

6.  Providing for the preservation of essential academic records; and

7.  Providing certain rights and remedies to the consuming public and the Commission and the Board necessary to effectuate the purposes of this chapter.