After two years in limbo, there is finally relief for nearly 1,000 former nursing school students at Stone Academy. The school shut down abruptly in Feb. 2023.

The students will split a $5 million legal settlement if a judge approves the deal, Connecticut's attorney general announced on Friday.

The settlement could also make it easier for students to finally start their nursing careers.

Perci Hunter is a single mother from Bridgeport who wanted a new career in nursing. But when Stone Academy suddenly closed its doors, she and hundreds of other students were left with nothing.

"Here we are all set to graduate, set to get out, and then you're going to drop a bomb on us like this?" she told News 12 Connecticut shortly after the closure.

The closure led to three different lawsuits. Over the last two years, most students have been in academic limbo because their credits did not transfer to other schools.

Now students will finally get some of their money back.

"This settlement is a major settlement of $5 million" Attorney General William Tong said. "We have an agreement to get $5 million to students. Not $5 million in fines and penalties, not $5 million 10 years from now."

The deal settles three different lawsuits regarding Stone Academy. Tong sued the school, while students sued both the school and the state of Connecticut.

Tong's lawsuit accused Stone Academy of cheating students with unqualified professors, overcrowded classes and not enough clinical hours.

"Millions of dollars were taken from the students and they did not get the education that they were promised," Tong said Friday.

The school has repeatedly accused the state of forcing it to close so abruptly.

"Stone sought to wind down in an orderly manner, proposing multiple teach out plans to avoid any disruption to its student body, but OHE [Office of Higher Education] ordered the closure to occur within two weeks without any teach plan in place," attorney Perry Rowthorn, a former deputy attorney general, said in July 2023. "Those agencies have completely bungled their regulatory responsibilities, approving programs and practices at issue in the lawsuit, misreading regulations and repeatedly in the last months altering their positions on applicable regulatory requirements."

The settlement would also ban owner Joseph Bierbaum from operating any other school for five years. Stone Academy's attorneys had no comment on Friday.

The deal goes beyond just money. It could also help up to 500 former students finally finish their education and get their nursing certification. The state will set aside $150,000 from the settlement to help students prepare for exit exams.

"We want to put these students in the best position possible," said attorney Timothy Cowan.

That includes possible night classes at Griffin Hospital – paid for by the state.

"It's one thing to go to school and then have the Stone Academy close, and then find out that just you're stuck for this time," said attorney David Slossberg. "They're just in limbo. They had credits, they were audited, they couldn't transfer them to another school. They couldn't use them to complete a degree."

Slossberg said some students already used their own money to finish nursing school, or simply gave up and chose another career.

WHAT DOES THIS MEAN FOR ME?

The money could go out as early as March, Slossberg said. Checks will be mailed out automatically. After attorneys' fees, $3.5 million will be split between almost 1,000 students.

It's not clear how much money each student will receive. Those who had more time and money invested in Stone Academy will get the most. Students also have the ability to opt-out and pursue their own claims against the school.

Tong is negotiating with the federal government to discharge Stone Academy's student loans, although it's not clear what impact the incoming Trump administration will have. The attorney general will also ask state lawmakers to approve an additional relief fund for students, according to the settlement paperwork.

None of this isn't a done deal yet. A hearing is set for next Thursday in Waterbury for preliminary approval, while a final hearing is set for Feb. 24.