Iowa Administrative Code › Agency 283 - College Student Aid Commission › Chapter 21 - Approval of Postsecondary Schools › Rule 283-21.15 - Approval Criteria for a School Seeking to Participate or Renew Participation in a Commission-approved Interstate Reciprocity Agreement Under Iowa Code Chapter 261g

Current through Register Vol. 47, No. 3, July 24, 2024
A school that applies to participate in a commission-approved
				interstate reciprocity agreement shall meet the following criteria:
(1) The applicant school shall be in
			 compliance with Iowa Code chapter 261B as provided in this chapter.
(2) The applicant school shall submit an
			 institutional participation application as required by the commission-approved
			 interstate reciprocity agreement. The application shall be signed by the
			 school's chief executive officer or chief academic officer.
(3) A nonpublic applicant school must submit
			 evidence that its most recent, official financial responsibility composite
			 score, as calculated using the method prescribed by the United States
			 Department of Education, is at least 1.5. A school demonstrates that its
			 financial responsibility composite score is official by providing written
			 confirmation of its composite score from the United States Department of
			 Education. In accordance with policies established by the interstate
			 reciprocity agreement administrator, the commission shall determine the
			 official financial responsibility composite score for a school that does not
			 participate in the postsecondary student financial aid programs authorized by
			 the United States Department of Education.
(4) The commission will consider the
			 application of a nonpublic school whose most recent, official financial
			 responsibility composite score is between 1.0 and 1.49. The applicant school
			 must submit a copy of the school's most recently audited financial statements
			 accompanied by a written explanation of the circumstances that caused the
			 school's composite score to be below 1.5 and the school's plan to raise its
			 composite score to 1.5 within a time frame determined by the commission. The
			 commission may approve, provisionally approve, or deny the school's
			 application.
(5) A for-profit
			 applicant school must demonstrate and maintain compliance with Iowa Code
			 sections
			 714.18
			 and
			 714.23. The
			 school shall apply the policy it adopts under Iowa Code section
			 714.23 to
			 students who attend its campus(es) in Iowa and to Iowa resident and nonresident
			 students who attend distance education programs the school offers under the
			 commission-approved interstate reciprocity agreement.
(6) The applicant school shall demonstrate
			 that the military deployment tuition and fee refund policy required under Iowa
			 Code sections
			 261.9(l)
			 "g," 262.9(30), and 260C.14(20), subrule 21.3(5) and paragraph 21.14(1)'/"
			 applies to students who attend its campus(es) in Iowa and to Iowa resident and
			 nonresident students who attend distance education programs the school offers
			 under the commission-approved interstate reciprocity agreement.
(7) An approved school will prominently
			 disclose on its website the school's participation in the commission-approved
			 interstate reciprocity agreement and provide the commission's contact
			 information in a format prescribed by the commission for students who wish to
			 inquire about the school or file a complaint. The school will provide the
			 commission with the name of and business contact information for a person whom
			 the school designates to receive student complaints from the commission and
			 coordinate the school's response.
(8) A school that is approved to participate
			 in the commission-approved interstate reciprocity agreement shall remit an
			 annual fee payable and due to the commission on July 15 of each year. The
			 school shall pay the annual fee to the commission if the commission's approval
			 to participate in the interstate reciprocity agreement is valid as of July 15
			 of that year. The annual fee is nonrefundable and will be assessed based on a
			 school's full-time equivalent (FTE) enrollment as follows:
* Under 2,500 FTE - $2,000.
* 2,500 to 9,999 FTE - $4,000.
* 10,000 FTE or more - $6,000.
(9) A school that is approved to participate
			 in the commission-approved interstate reciprocity agreement shall remit to the
			 interstate reciprocity agreement administrator any required fees.
(10) Upon approval by the interstate
			 reciprocity agreement administrator, a school may continue its participation in
			 the reciprocity agreement as long as it meets all requirements of the
			 interstate reciprocity agreement.