Establishes provisions relating to proprietary schools

SB 690 would require for-profit colleges (proprietary schools) in Missouri to post security bonds of at least $5,000 or 10% of their prior year’s tuition, whichever is greater, to protect students. If a school closes, violates rules, or fails to provide refunds, the bond would cover student losses and ensure refunds or program completion. The bill establishes new enforcement powers for the Board of Higher Education to oversee schools, review programs within set timeframes, and mandate refunds upon closure. It exempts public institutions, accredited religious schools, and certain non-profits from these requirements.