Establishes Student Tuition Recovery Fund in Office of the Secretary of Higher Education to compensate students impacted by failing or fraudulent proprietary institutions.

S 3731 establishes a Student Tuition Recovery Fund within New Jersey's Office of the Secretary of Higher Education to reimburse students who paid tuition and fees to proprietary (for-profit) colleges that closed or failed. Proprietary institutions must pay an initial $2,500 deposit and then a fee of at least $1 per $1,000 in tuition and fees each semester to fund the program. Students can apply for reimbursement of their economic loss (tuition and fees paid, excluding grants and scholarships) by providing proof of residency, payment, and the reason for their claim (e.g., school closure), with claims accepted within six years of leaving the institution. The fund may also help students seek federal loan forgiveness to avoid repaying loans for incomplete education.