Louisiana Administrative Code
Title 28 - EDUCATION
Part III - Proprietary Schools
Chapter 9 - Proprietary Schools Applications
Section III-903 - License Renewal
Universal Citation: LA Admin Code III-903
Current through Register Vol. 50, No. 9, September 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.
AUTHORITY NOTE: Promulgated in accordance with R.S. 17:3140.3 and R.S. 17:3140.4.
Disclaimer: These regulations may not be the most recent version. Louisiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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