(a) In a year in which the Agency determines it is
necessary to charge a fee under §132.2415(b) of the Act, each
school shall make a payment to the tuition trust account at the time
the school renewal fee is paid.
(b) The amount in the tuition trust account, as provided
in the Act, is an accrued balance. The accrued balance is the cash
balance of the tuition trust account less the sum of the accrued liabilities
from unpaid student refunds and teach-out claims.
(c) Disbursements shall be made from the tuition trust
account for student refunds and reimbursable teach-out expenses incurred
during each 12-month period ending August 31, and shall be:
(1) made first for student refunds in accordance with §132.2415(d)
of the Act and §807.262 of this chapter;
(2) calculated after refunds or discharges from other
funding sources have been determined;
(3) disbursed to other funding sources from any amount
remaining under the limitation of §132.242(e) of the Act; and
(4) disbursed for reimbursable teach-out expenses based
upon remaining funds in the account.
(d) Following the graduation or termination of the
students from the teach-out school, the teach-out school shall determine
actual expenses and submit a claim for reimbursement to the Agency
on or before the date provided in the application packet. The teach-out
school shall:
(1) not claim expenses for facilities, equipment, utilities,
or other items which were owned, rented, used, or otherwise obligated
by the school prior to the Agency's approval of the teach-out program,
even though such items may be used for the teach-out program;
(2) be limited to expenses for tuition and fees that
are nonrecoverable from all financial resources, including grants
and loans; and
(3) ensure that the sum of the tuition and fees paid
to the student's account at the closed school and the teach-out school
is the lesser amount the student would have been charged for the complete
program at the closed school or the teach-out school.
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Source Note: The provisions of this §807.342 adopted to be effective August 28, 2006, 31 TexReg 6803; amended to be effective November 14, 2016, 41 TexReg 9020; amended to be effective November 28, 2022, 47 TexReg 7914 |