Under current law, a state-supported institution of higher education (institution) may offer a student a fixed-rate tuition contract. The bill requires each state-supported 4-year institution to offer a fixed-rate tuition contract for bachelor degree programs. Community colleges may offer a student a fixed-rate tuition contract.
The fixed-rate tuition must be valid until the earlier of the student's completion of the degree program, the completion of 140 credit hours, or 5 years. All students admitted to the same class and enrolled in the same degree program must receive the same fixed rate.
The bill includes provisions relating to the transferability of the fixed-rate contract among campuses of the same institution, as well as the student's transfer to a different institution.
(Note: This summary applies to this bill as introduced.)