Directs Secretary of Higher Education to revoke proprietary school's license to award academic degrees if school fails to achieve certain minimum graduation rates.

This bill requires New Jersey's Secretary of Higher Education to revoke the license of for-profit colleges that fail to meet specific graduation rate targets. By the sixth year after the law takes effect, these schools must achieve a 75% graduation rate for full-time students in four-year degree programs and a 75% rate for two-year programs. If a school is not on track after five years but demonstrates sufficient progress, the Secretary may grant additional time to meet the requirements before revoking the license. The law directly affects for-profit colleges authorized to offer degree programs in New Jersey.