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Electronic Code of Federal Regulations

e-CFR data is current as of May 28, 2020

Amendment


34 CFR--PART 668

View Printed Federal Register page 84 FR 58931 in PDF format.

Amendment(s) published November 1, 2019, in 84 FR 58931

Effective Dates: July 1, 2020

51. Section 668.26 is amended by:

a. Redesignating paragraph (e) as paragraph (f); and

b. Adding new paragraph (e).

The addition reads as follows:

§668.26   End of an institution's participation in the Title IV, HEA programs.

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(e)(1) Notwithstanding the requirements of any other provision in this section, with agreement from the institution's accrediting agency and State, the Secretary may permit an institution to continue to originate, award, or disburse funds under a Title IV, HEA program for no more than 120 days following the date of a final, non-appealable decision by an accrediting agency to withdraw, suspend, or terminate accreditation, by a State authorizing agency to remove State authorization, or by the Secretary to end the institution's participation in title IV, HEA programs if—

(i) The institution has notified the Secretary of its plans to conduct an orderly closure in accordance with any applicable requirements of its accrediting agency;

(ii) As part of the institution's orderly closure, it is performing a teach-out that has been approved by its accrediting agency;

(iii) The institution agrees to abide by the conditions of the program participation agreement that was in effect on the date of the decision under paragraph (e)(1), except that it will originate, award, or disburse funds under that agreement only to enrolled students who can complete the program within 120 days of the decision under paragraph (e)(1) or who can transfer to a new institution; and

(iv) The institution presents the Secretary with acceptable written assurances that—

(A) The health and safety of the institution's students are not at risk;

(B) The institution has adequate financial resources to ensure that instructional services remain available to students during the teach-out; and

(C) The institution is not subject to probation or its equivalent, or adverse action by the institution's State authorizing body or accrediting agency, except as provided in paragraph (e)(1).

(2) An institution is prohibited from engaging in misrepresentation, consistent with 34 CFR part 668 subpart F and consistent with 34 CFR part 685 subpart B, about the nature of its teach-out plans, teach-out agreements, and transfer of credit.

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