La. Admin. Code tit. 28 § III-903

Current through Register Vol. 50, No. 11, November 20, 2024

Section III-903 - License Renewal

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.

La. Admin. Code tit. 28, § III-903

Promulgated by the Department of Education, Board of Regents, LR 33:1862 (September 2007), Amended by the Board of Regents, Proprietary Schools Section, LR 471300 (9/1/2021).

AUTHORITY NOTE: Promulgated in accordance with R.S. 17:3140.3 and R.S. 17:3140.4.