BOSTON –The Massachusetts State Senate recently unanimously voted to establish new requirements for higher education institutions. The goal of State Senator Nick Collins and his colleagues in the Senate is to support the financial stability of students and their families. These steps have been taken in response to recent closures of small colleges in the Commonwealth which came a surprise to students and families, causing financial hardship and disrupting their education.

The legislation includes important accountability measures such as the development of student-focused contingency plans if the public college or university is expected to close. There is also a new requirement for the development of a training program for school board of trustee members, in the attempt to achieve better management. The training will occur every four years.

The new requirement of financial reports is designed to lead to better assessment and clarity. The assessments will be created by the Board of Higher Education (BHE) to ensure financial honesty and accountability. “With this new legislation higher education institutions, their students, and the families of students will all have increased predictability, financial security, and be on a better footing for success,” said State Senator Nick Collins.  “It’s incredibly important to support students and their families as they work to advance their education, and I am proud to have voted for this bill.”