005.28.23 Ark. Code R. 004

Current through Register Vol. 49, No. 9, September, 2024

Rule 005.28.23-004 - DESE Rules Governing Payments Under the Educational Freedom Account Program

1.00CONTINUATION OF PAYMENTS

1.01 Once families and participating schools have been approved to participate in the Educational Freedom Account (EFA) program, the Department of Education shall continue to make quarterly payments on behalf of the approved students and families to the approved participating schools or service providers:

1.01.1 The department shall make four (4) equal payments in quarterly installments from the participating student's educational freedom account to the participating school or service provider.

1.01.1.1 A third-party payment processing vendor shall create and set up payment accounts for approved students and families as determined by the department.

1.01.1.2 Participating schools or service providers, or third-party vendors shall issue an itemized invoice to approved students and families for documentation of expense type, amount, and recipient.

1.01.1.3 Approved students and families shall verify and submit payment requests, identifying the participating school or service provider to receive payment, the payment amount, and the expense type.

1.01.1.4 Approved students and families shall include invoice for review and documentation during the payment submission process via the third-party payment processing vendor.

1.01.1.5 The third-party payment processing vendor shall remit payment to a participating school or service provider for authorized expenditures, unless an expenditure is not authorized by law, following a review and approval of expense request and documentation by the department.

1.02 Participating schools receiving EFA funds shall apply any scholarship awards, tuition rates, and tuition discounts toward an approved student's tuition, costs, and fees before EFA funds can be applied to any invoiced charges by the participating school.

1.03 This rule shall be effective until amended, repealed, or superseded by a rule promulgated by the department.

005.28.23 Ark. Code R. 004

Adopted by Arkansas Register Volume 49, Number 04, Effective 3/31/2024