Section 281-8-005 - DISBURSEMENT OF FUNDThe purpose of the fund is to pay claims authorized pursuant to Neb. Rev. Stat. § 85-2426.
005.01 Money in the Guaranty Recovery fund shall be used in the following order of priority: 005.01(A) To reimburse any student injured by the termination of operations by a for-profit postsecondary institution on or after September 1, 2017, for the cost of tuition and fees;005.01(B) To reimburse any former student of a for-profit postsecondary institution that has terminated operations on or after the operative date of this section for the cost of obtaining such student's student records;005.01(C) To reimburse the University of Nebraska for reasonable expenses directly associated with the storage and maintenance of academic records pursuant to Neb. Rev. Stat. §§ 85-173 and 85-174 of those students adversely affected by termination of operations by a for-profit postsecondary institution ; and005.01(D) To reimburse the Nebraska Opportunity Grant Fund for any funds distributed to a for-profit postsecondary institution for an academic term that was not completed by students receiving awards under the Nebraska Opportunity Grant Act due to the termination of operations by a for-profit postsecondary institution after the operative date of this section to the extent such funds are not returned to the Nebraska Opportunity Grant Fund by the for-profit postsecondary institution.281 Neb. Admin. Code, ch. 8, § 005
Adopted effective 5/21/2018