Postsecondary education: California Private Postsecondary Education Act of 2009: Student Tuition Recovery Fund.

The California Private Postsecondary Education Act of 2009 provides for the regulation of private postsecondary educational institutions by the Bureau for Private Postsecondary Education in the Department of Consumer Affairs. The act also establishes the Student Tuition Recovery Fund and requires the bureau to adopt regulations governing the administration and maintenance of the fund, including requirements relating to assessments on students and student claims against the fund, and establishes that the moneys in this fund are continuously appropriated to the bureau for specified purposes. The act authorizes a California student of a Corinthian Colleges, Inc., institution who meets all of the other eligibility requirements, including that the student was enrolled as of June 20, 2014, or withdrew within 120 days of that date, to receive payment from the fund. The act defines economic loss, for the purposes of a student's loss that may be relieved or mitigated through the fund, to include but not necessarily be limited to, pecuniary loss, which is the sum of the student's tuition, all other institutional charges, the cost of equipment and materials required for the educational program, and interest on any student loan used to pay for such charges. This bill would instead allow a California student of a Corinthian Colleges, Inc., institution who was residing in California and attending a campus on or after January 1, 2010, and who would be eligible but for the Corinthian College's exemption from the act, or a student of a Corinthian College who was enrolled as of June 20, 2014, or withdrew within 120 days of that date, as specified, to receive payment from the fund. The bill would expand the definition of economic loss to include all cash or other consideration paid by the student to an institution, all expenses related to private or government student loans in connection with the student's attendance, and all third-party payments paid to the student or to the institution in connection with the student's attendance at the institution, as specified. To the extent that the bill expands the purposes of the fund, the bill would make an appropriation.