Creates, within the student achievement council, the office of the ombuds serving students of for-profit degree granting institutions and private vocational schools to provide assistance to students of for-profit postsecondary institutions and private vocational schools.

Requires the council, in coordination with the workforce training and education coordinating board, to appoint an ombuds.

Requires the council, the board, and the department of licensing to work together to design and oversee a study, to be administered by the council, that objectively analyzes and makes recommendations about systemic overlaps and gaps in jurisdiction regarding for-profit degree granting institutions and private vocational schools in the state.

Authorizes the council to deny, revoke, or suspend the authorization of an institution that is found to have engaged in a substantial number of unfair business practices or that has engaged in significant unfair business practices.

Addresses unfair business practices with regard to the sale of, or inducing of students to obtain, specific consumer student loan products to fund education that financially benefit certain persons or entities.