"Last week, Governor Charlie Baker joined me, Lt. Governor Karyn Polito, Senate President Karen Spilka, Secretary of Education Jim Peyser, Senator Anne Gobi, the Association of Independent Colleges and Universities in Massachusetts (AICUM), Higher Education Commissioner Carlos Santiago, and SEIU Local 509 to sign An Act to Support Improved Financial Stability in Higher Education (H4099) which will clarify and enhance the authority of the Board of Higher Education to monitor the financial health of Massachusetts colleges and universities.https://malegislature.gov/Bills/191/H4099
This legislation requires any institution facing financial challenges that may jeopardize the institution’s ability to fulfill its obligations to current and admitted students to notify the Board of Higher Education, as well as submit a contingency plan for approval that includes arrangements for students to complete their studies. It also requires training for boards in financial metrics and fiduciary responsibilities.
It was a great day for students and their families, as this legislation will provide transparency and restore confidence in our higher education institutions. Through this legislation, the state will be a partner in providing transparency and accountability to promote resiliency and financial stability, and to ensure that our students have access to the opportunities that they need, that they can count on, and that deliver for the long-term strength of our state."
You can view the text of the legislation by clicking here
You can view the video of the speech I delivered on the House floor by clicking herehttps://youtu.be/Yif9z11_-jQ
You can read the Milford Daily News report on the bill by clicking herehttps://franklin.wickedlocal.com/news/20191002/house-set-to-advance-college-closure-bill
the Governor's press release by clicking herehttps://www.mass.gov/news/governor-baker-signs-legislation-to-support-financial-stability-in-higher-education-and
and my blog post by clicking herehttps://jeffreyroy.com/2019/10/14/house-votes-to-increase-transparency-and-financial-reporting-requirements-of-massachusetts-higher-education-institutions/
For the full contents of the newsletter
https://mailchi.mp/8f1e3182bea3/ux2l17im8a-2451581?fbclid=IwAR2RJm_gA14O1ggtFzK-PYNR1SV798Gd7BlXu8PL1ghS6LdaosxMNXI_0n4
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| Governor signs college closure bill |
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