The purpose of this chapter is to: Provide for the assessment of fees on for-profit institutions of higher education under Education Article, §11-203, Annotated Code of Maryland; Provide for the filing of certain financial guarantees by for-profit institutions of higher education under Education Article, §11-203, Annotated Code of Maryland; Provide for the creation and administration of the Maryland Guaranty Student Tuition Fund for For-Profit Institutions of Higher Education; Set forth standards and procedures for processing claims filed by students of for-profit institutions of higher education under Education Article, §11-203, Annotated Code of Maryland; and Set forth reporting requirements for for-profit institutions of higher education operating in Maryland.