283—21.5(261B,261G) Postsecondary school, Iowa site, or program closure.

1. 21.5(1)  A postsecondary school that is approved under subrule 21.3(1) or 21.3(2), or a degree-granting postsecondary school approved pursuant to Iowa Code section 714.18, must notify the commission in writing before the postsecondary school takes action to close the postsecondary school, close an Iowa site, or discontinue a program that is offered to Iowans.

2. 21.5(2)  If requested by the commission, the postsecondary school shall provide the following information to the commission:

   1. a. The full name, residential address, telephone number, email address, program name, and anticipated graduation date of affected Iowa resident students or, as applicable, affected students at the postsecondary school’s Iowa campus(es). The postsecondary school shall organize this list in alphabetical order by student last name.
   2. b. Documentation of the postsecondary school’s proposed notice to students.
   3. c. The postsecondary school’s specific plan to provide alternatives for affected students to complete the programs offered under the postsecondary school’s state authorization, and any external approvals of the plan if applicable.
   4. d. The postsecondary school’s plan for storage and retrieval of student transcript information pursuant to subparagraphs 21.3(1)“b”(8) and 21.3(2)“b”(3).
   5. e. Specific information about how the postsecondary school will provide transitional support to affected students.

   6. f. Contact information for the specific entity and individual who will accept responsibility for all of the following:

      1. (1) Ensuring that unearned federal student aid is returned to the United States Department of Education on a timely basis.
      2. (2) Finalizing student account records and providing copies of the students’ final account statements to the students and, upon request, to the commission.
      3. (3) Collecting outstanding bills a student owes to the postsecondary school for tuition and other educational expenses.
      4. (4) Collecting on private education loans or other institutional loans made to students by the postsecondary school and, if applicable, the postsecondary school’s private preferred lender(s).
      5. (5) Responding to inquiries from students, parents, and the commission.
3. 21.5(3)  An authorized postsecondary school that has a continuous corporate surety bond in effect pursuant to Iowa Code section 714.18 will maintain the bond until the last currently enrolled Iowa student graduates or withdraws.
4. 21.5(4)  If the commission takes action to discontinue a postsecondary school’s program, close a postsecondary school’s Iowa site, or terminate a postsecondary school’s operation in Iowa pursuant to subparagraph 21.3(1)“c”(3), the postsecondary school shall provide to the commission the information in subrule 21.5(2) and shall be subject to the requirements of subrule 21.5(3).

[ARC 0052D, IAB 2/4/26, effective 3/11/26]