New York Codes, Rules and Regulations
Title 8 - EDUCATION DEPARTMENT
Chapter II - Regulations of the Commissioner
Subchapter F - Private Schools
Part 126 - Licensed Private Career Schools Or Licensed Private Schools
Section 126.17 - Tuition reimbursement account
Current through Register Vol. 46, No. 12, March 20, 2024
(a) Pursuant to section 5007 of the Education Law, a student who was enrolled in a school which has not closed or ceased operation, and who has dropped out, is entitled to a full refund if the student has submitted a complaint form to the commissioner and the commissioner has determined that one or more of the following violations have occurred:
(b) Schools ceasing operation shall be responsible for paying the assessment charged for the tuition reimbursement account for the quarter in which the school ceases operation by the due date for such quarterly payment.
(c) New schools. New schools, which did not operate in the year prior to licensure, will have no gross tuition upon which to be assessed until either the end of their first fiscal year or March 31st of the year after the school was licensed, whichever comes first. For schools whose fiscal year end comes before March 31st of the year after the school was licensed, a complete financial statement in compliance with the provisions set forth in section 5001(4)(e) of the Education Law is required. For new schools whose fiscal year comes later than March 31st after their initial licensure date, the school shall submit an unaudited reviewed income statement for the time period between initial licensure and March 31st, detailing the amount of gross tuition received during that period. Thereafter, complete financial statements shall be required as prescribed in section 5001(4)(e) of the Education Law.
(d) For the purpose of calculating the balance of the tuition reimbursement account in accordance with section 5007(10)(g) of the Education Law, the commissioner shall determine the balance of the tuition reimbursement account on a quarterly basis on June first, September first, December first and March first, as defined for the collection of school assessments under section 5001(9) of the Education Law.