Protects students from unfair business practices by regulating the institutions of higher education, including for-profit institutions and private vocational schools.

Requires the student achievement council to: (1) Continue administering the two-part study of for-profit degree-granting institutions and private vocational schools, including findings and recommendations regarding the creation of an ombuds to serve students of degree-granting institutions and private vocational schools; and

(2) Deny, revoke, or suspend the authorization of a degree-granting institution found to be in violation of chapter 28B.85 RCW, including having engaged in a significant number of unfair business practices.

Prohibits a degree-granting institution, an agent of the institution, and certain private vocational schools from engaging in a practice regarding the sale of, or inducing of students to obtain, specific consumer student loan products to fund education that financially benefits a person or entity that has an ownership interest in the institution.