Lawmakers in the Massachusetts State House unanimously approved the bill H. 4099, “An Act to Support Improved Financial Stability in Higher Education” on Oct. 2. The bill would require institutions of higher education to disclose financial reports to the public in an accessible manner, undergo financial screening and notify state officials of financial risks that could result in imminent closure. As of Nov. 6, the act was enacted by the state senate and waiting for the governor’s signature. …

Michael Horn, author of multiple books on education and chair of the Education Quality Assurance Standard Board, a nonprofit that offers common standards for schools to verify the student outcomes they claim, said the bill offers a necessary consumer protection for students who are spending a lot of time and money on a degree.