19. a. It shall be an unlawful practice and a violation of P.L.1960, c.39 (C. 56:8-1 et seq.) for any private career school, person, or entity to collect on a student’s institutional debt if the institutional financial aid agreement does not contain the language required under paragraph (3) of subsection c. of section 15 of P.L.2021, c.27 (C. 34:15C-10.4).

b. It shall be an unlawful practice and a violation of P.L.1960, c.39 (C. 56:8-1 et seq.) for a private career school to collect on the institutional debt of a student who attended a program in which a disorderly closure occurred.

L.2021, c.27, s.19.