When a school that is licensed under ORS 345.010 to 345.340 is approved by the Higher Education Coordinating Commission to confer or offer to confer an academic degree under ORS 348.606 and the school continues to offer a course or program that does not lead to an academic degree:

1. (1) The school must continue to be licensed as a career school and meet the requirements of ORS 345.010 to 345.340 until:

   1. (a) All courses or programs offered by the school are approved by the commission; and

   2. (b) All students who were first enrolled in the school when the school was licensed as a career school have:

      1. (A) Completed the course or program for which the student contracted with the career school; or
      2. (B) Terminated enrollment in the career school for any reason.

2. (2) A student who is enrolled in a course or program for which a school must be licensed under ORS 345.010 to 345.340 is eligible for moneys from the Tuition Protection Fund established under ORS 345.110 if the student:

   1. (a) Qualifies for moneys under rules adopted by the Higher Education Coordinating Commission under ORS 345.110; and
   2. (b) Was first admitted to the school when the school was licensed as a career school under ORS 345.010 to 345.340.
3. (3) When a course or program that did not lead to an academic degree is approved by the Higher Education Coordinating Commission to lead to an academic degree, the regulatory authority for that course or program transfers to the commission upon the approval.

[2009 c.340 §2; 2011 c.637 §133; 2012 c.104 §22]