Louisiana Administrative Code › Title 28 - EDUCATION › Part III - Proprietary Schools › Chapter 9 - Proprietary Schools Applications › Section III-903 - License Renewal

Current through Register Vol. 50, No. 6, June 20, 2024
A. Renewal
				letters are sent to the school owners annually. A license renewal application
				must be received in this office 30 days prior to the license expiration. If it
				is not, there shall be a $500 delinquent fee. Failure to furnish all the
				renewal information prior to the license expiration date will cause the license
				to expire. There can be no exceptions or any other extension. The following
				paperwork must be submitted:
1. a completed
				PSC-1 Form;
2. verification from
				the bonding company that the surety bonds ($10,000 for school and $1,000 per
				solicitor) are still in effect must accompany the renewal application. The
				premium period must coincide with the school's licensure period.
3. a completed PSC-12 form;
4. the renewal fee based upon the school's
				previous year's gross tuition revenues. The check is to be made payable to the
				"Louisiana Board of Regents." Refer to the PSC-12 form;
5. financial statements:
a. for those schools which participate in
				Title IV funding, an original set of financial statements that have been
				audited by an independent certified public accountant licensed in the state of
				Louisiana, including a current balance sheet and an income statement showing
				gross tuition receipts for the school's last fiscal year, and in the case of a
				corporation, signed by an officer of the corporation, sole proprietorship or
				partnership, signed by the owner(s) or a duly authorized agent acting on behalf
				of the owner(s), stating that it is true and correct; and
b. for those schools which do not participate
				in Title IV funding, an original set of financial statements that have been
				reviewed by an independent public accountant licensed in the state of
				Louisiana, including a current balance sheet and an income statement showing
				gross tuition receipts for the school's last fiscal year, and in the case of a
				corporation or sole proprietorship or partnership, signed by the owner(s) or a
				duly authorized agent acting on behalf of the owner(s) stating that it is true
				and correct;
6. an
				internal compilation reflecting the school's most recent quarter, if the
				audit/review submitted with the renewal materials, reflects a business year
				that ended more than 120 days prior to the submission of the renewal
				materials;
7. a completed PSC-18
				Form reflecting the application date listed on the PSC-1 Form;
8. a completed PSC-4 Form for any new
				solicitor employed with the school. The initial and/or renewal fee is $100 per
				solicitor is to be made payable to the "Louisiana Board of Regents";
9. a completed PSC-9 Form on all instructors
				and staff employed since the last school renewal, unless previously approved
				during the year;
10. a current
				school catalog;
11. a current copy
				of the enrollment agreement/enrollment contract;
12. proof of the ability to electronically
				store student transcript data;
13.
				Institutions seeking renewal licensure shall annually collect, and all
				institutions licensed by the Board of Regents shall annually report,
				student-level data from the prior year for each student, in a format prescribed
				by the Board of Regents. At minimum, data from the prior year must include
a. withdrawal data,
b. program completion/ graduation
				data,
c. student demographic
				information (including full name, date of birth, social security number, sex,
				race/ethnicity), type of credential earned.