Ark. Code Ann. § 19-5-960: Private Career School Student Protection Trust Fund

(a) There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "Private Career School Student Protection Trust Fund".

(b) The fund shall consist of a fee to be set by the Division of Higher Education in consultation with the State Board of Private Career Education as provided in § 6-51-607 , there to be used for paying claims and other expenses as set out in § 6-51-607 .