Effective: April 3, 2003
Latest Legislation: Senate Bill 266 - 124th General Assembly
(A) Not later than the thirty-first day of August in each year, each school registered by the state board of career colleges and schools shall pay into the student tuition recovery fund in the following amounts:
(1) Schools initially registered or sold on or after July 28, 1989, for the first five payments $500;
(2) Any other school, according to its prior year's tuition receipts:
Checks shall be made payable to the student tuition recovery fund and sent to the executive director of the state board, who shall promptly forward all such receipts to the treasurer of state. Failure of a school to make a payment is cause for cancellation of its certificate of registration.
(B) The student tuition recovery authority may impose a special assessment on the schools in an amount up to the amount of an annual contribution if the draw on the money exceeds the money on hand.
(C) Once the fund has assets in excess of liabilities of approximately one million dollars, the authority may:
(1) Reduce or eliminate the annual contributions, except on institutions that are required to contribute to the fund for at least a five-year period. The reduction in contributions to the fund will be at the discretion of the authority but they will be guided by the objective to maintain assets in excess of liabilities of approximately one million dollars.
(2) Utilize moneys in excess of the assets required to be maintained in the fund by division (C)(1) of this section for the purposes of disseminating consumer information about private career schools and maintaining student records from closed schools.
Structure Ohio Revised Code
Title 33 | Education-Libraries
Chapter 3332 | Career Colleges and Schools
Section 3332.01 | Career Colleges and Schools Definitions.
Section 3332.02 | Exceptions to Chapter.
Section 3332.03 | State Board of Career Colleges and Schools.
Section 3332.031 | Duties of Board.
Section 3332.05 | Certificate of Registration - Program Authorization.
Section 3332.051 | Student Satisfaction Surveys.
Section 3332.071 | Disclosure Course Fees; Charging Students Prohibited.
Section 3332.08 | Surety Bond.
Section 3332.081 | Student Tuition Recovery Authority.
Section 3332.082 | Prepaid Tuition Loss Due to Closure of School - Reimbursement.
Section 3332.083 | Student Tuition Recovery Fund.
Section 3332.084 | Student Tuition Recovery Authority - Powers and Duties.
Section 3332.085 | Mandatory Payments Into Student Tuition Recovery Fund - Special Assessment.
Section 3332.09 | Limitation, Suspension, or Revocation of Registration or Authorization - Penalty.
Section 3332.091 | Complaints.
Section 3332.092 | Repaying Instructional Grants for Ineligible Students.
Section 3332.11 | Granting or Denial of Agent's Permit.
Section 3332.12 | Revocation or Suspension of Agent's Permit.
Section 3332.13 | Bond Does Not Limit nor Impair Right of Recovery.
Section 3332.14 | Requirement for Recovery.
Section 3332.15 | Issuance of Permit Does Not Constitute Approval of Program.
Section 3332.16 | Consumer Transactions Subject to Consumer Sales Practices Act.
Section 3332.18 | Effect of Child Support Default on Permit.
Section 3332.20 | Military Leave of Absence for Student on Active Duty.