Rule 3332-1-19 | The student tuition recovery fund.
(A) The state board of career colleges and schools shall assist the student tuition recovery authority in its administration and oversight of the student tuition recovery fund.
(B) The state board of career colleges and schools shall collect payments on behalf of the student tuition recovery authority pursuant to the payment schedule identified in section 3332.085 of the Revised Code. Checks shall be made payable to the student tuition recovery fund and sent to the executive director of the state board of career colleges and schools, who will promptly forward all receipts to the treasurer of state. New schools and schools changing ownership must submit their student tuition recovery fund fees with their new school or change of ownership application that is submitted to the state board of career colleges and schools. All other registered schools shall be invoiced for their yearly fees and must submit their payments by August thirty-first.
(1) In calculating the previous fiscal year's gross tuition income, Ohio schools must include all tuition receipts for approved programs, whether or not the students were residents of Ohio.
(2) Out-of-state schools must contribute based on the Ohio residents they enroll.
(3) Failure of a school to make payment more than fifteen days after the due date listed on the invoice may result in the initiation of proceedings under Chapter 119. of the Revised Code for cancellation of the certificate of registration and/or the imposition of civil penalty.
(4) A minimum penalty of one hundred dollars will be assessed against any school whose student tuition recovery fund payment is submitted after the due date listed on the invoice. In the event of receiving a check that is dishonored the board will assess an additional penalty of fifty dollars.
(C) Upon the receipt or information that a school registered by the state board of career colleges and schools has closed, the executive director of the board shall determine if any enrolled students are eligible for assistance from the student tuition recovery authority. If the executive director determines that students may be eligible for assistance, the executive director shall:
(1) Notify the authority that the school is officially closed;
(2) Obtain and forward to the authority the names, addresses, and the total amount of prepaid tuition paid by each student that has submitted a claim for reimbursement;
(3) Determine which of these students will accept a teach-out provided by another school;
(4) Determine if the students in question have a student loan and identify the amount of the loan and the lender; and,
(5) Send to each eligible student a form for the authority to secure and verify the above information;