| (a) A school shall document refunds by written record
indicating the date of the refund transaction, the name of the student
receiving the refund, the total amount refunded, and the specific
reason for the refund. Proof of completion shall be on file within
120 days of the effective date of termination and shall include:
(1) copies of both sides of the cancelled check;
(2) printed proof of completed transaction of electronic
funds transfer or other similar electronic means; or
(3) documentation of an awarded credit to a credit
card or other similar account.
(b) To ensure a school's good faith effort to timely
complete a refund owed directly to a student, the student's file shall
contain evidence of the following proof of a certified mailing of
the refund to the:
(1) student's last known address;
(2) student's permanent address, if different from
the student's last known address; or
(3) address of the student's parent or legal guardian,
if different from the student's last known and permanent addresses.
(c) If after making a good faith effort to timely complete
a refund, the school is unable to complete the refund, the school
shall forward to the Agency the appropriate refund amount and any
pertinent student information to assist the Agency in locating the
student.
(d) Unless otherwise required by another law, refunds
will be made in the following order:
(1) on behalf of the student to federal loans used
to pay tuition and fees;
(2) on behalf of the student to private loans used
to pay tuition and fees;
(3) to the student for personal loans, including credit
card debt, and cash used to pay tuition and fees; and
(4) to other funding sources, including Boards, to
reimburse payments for tuition and fees.
|
| Source Note: The provisions of this §807.262 adopted to be effective August 28, 2006, 31 TexReg 6803; amended to be effective January 23, 2012, 37 TexReg 200; amended to be effective November 14, 2016, 41 TexReg 9020 |
