Section 92-44-007 - Disbursement of FundThe purpose of the fund is to reimburse tuition and fees due individuals from schools authorized to operate in the state when the school terminates operation. In the event a private postsecondary career school authorized to operate in the state goes into bankruptcy, or for any other reason terminates operation without completing its educational obligations, or reimbursing its individuals for unearned tuition and fees, the Board may authorize the reimbursement to the claimant or lender the unearned tuition and fees paid to that school in accordance with section 006.01.
007.01 Claims against the fund may be paid in whole or in part, based upon the extent to which the class objectives were met for each claimant, and taking into account considerations including but not limited to: 007.01A Acceptance by the claimant of "teach-out" program;007.01B Amounts available and likely to become available to the fund for payment of claims;007.01C Total amount and number of claims presented or reasonably likely to be presented in the future;007.01D Total amount and number of claims caused by the termination of operation of a school;007.01E Amounts paid out from the fund on claims in the past;007.01F The total amount of monies paid to the school by identified or prospective claimants.007.01G When the school holds a surety bond, the claimant first shall file a claim against the surety bond holder or against the holder of such other security agreement which the school has filed with the Department under 92 NAC 41.92 Neb. Admin. Code, ch. 44, § 007
Amended effective 11/8/2016.