СÖíÊÓƵ

This section highlights several key post-approval requirements that may be useful for applicants to know prior to application submission. The information contained herein is not exhaustive, and approved institutions will be held to all applicable laws, regulations, and policies guiding the offering of higher education in СÖíÊÓƵ State.

Term of Approval

A typical term of approval is five years, unless amended by the Board of Regents, and begins on the date of Regents action.Ìý Permission to operate may be renewed for successive terms at the discretion of the Board of Regents, provided the institution continues to meet eligibility requirements and the terms of its approval.

Reporting Requirements

Approved institutions will be required to submit reports to СÖíÊÓƵ at minimum on an annual basis.Ìý In addition to providing audited financial statements and Form 990 (as applicable), reporting requirements may include, but not be limited to, the following information disaggregated by course, program, and СÖíÊÓƵ students:

• Full-time and part-time enrollment;
• Course and program completion rates;
• Student retention;
• Time to degree;
• Graduation rates;
• Average student debt;
• Student loan repayment and default rates; and,
• Student complaints.

If at any point during the approval term СÖíÊÓƵ has reason to believe that the institution is out of compliance with the terms of approval, or with other applicable regulatory or legal requirements, СÖíÊÓƵ may implement additional monitoring and require additional reports from the institution.

Renewal Requirements

Institutions seeking to renew their permission to operate must notify the Department one year in advance and submit a renewal application and fee no later than four months before the expiration of the current term. An institution that has not renewed its status before the end of its current term will lose its eligibility to enroll students in СÖíÊÓƵ at the end of its current term.

The renewal application fee of $2,500 per program, plus an annual administrative fee of $5,000, ($7,500 in total) is due when the renewal application is submitted.

Revocation

The Department may revoke an institution’s approval and/or prohibit the institution from enrolling new students in СÖíÊÓƵ State at any time based on a failure to pay the required fees or on a finding that the institution no longer meets the requirements for permission to operate. An institution whose approval is revoked will not receive a refund of any fee paid to СÖíÊÓƵ. An institution has the right to appeal a revocation in a timeframe and manner prescribed by the Commissioner.