N.M. Admin. Code § 16.34.8.19

Current through Register Vol. 35, No. 23, December 10, 2024

Section 16.34.8.19 - SCHOOL TUITION REFUND AND SETTLEMENT POLICY

A. In cases where students are regulated by federal or special program refund policies that policy prevails. The school must publish in its enrollment agreement or registration contract a refund policy that contains the following minimum guidelines:

(1) If a student cancels the enrollment more than three business days after signing the contract but prior to starting classes, a refund of all monies paid to the school less the applicable registration (administration fee not to exceed two hundred dollars or fifteen percent of the tuition and fees, whichever is less) will be made.

(2) For students who enroll and begin classes but withdraw prior to course completion (after three business days of signing the contract), the school must apply a refund calculation schedule at least as liberal as the following: The percent of scheduled time enrolled to total course and total tuition school shall receive or retain is as follows:

(a) 0.01% to 04.9% 20%

(b) 5% to 09.9% 30%

(c) 10% to 14.9% 40%

(d) 15% to 24.9% 45%

(e) 25% to 49.9% 70%

(f) 50% and over 100%

B. If permanently closed or no longer offering instruction after a student has enrolled, the school will provide a pro rata refund of tuition to the student.

C. If the course is canceled subsequent to a student's enrollment, the school will either provide a full refund of all monies paid or completion of the course at a later time.

D. Students who withdraw or terminate prior to course completion may be charged a separate cancellation fee not to exceed one hundred fifty dollars.

E. All extra costs, such as books, equipment, graduation fees, etc., which are not included in the tuition price must be stated in the contract and any non-refundable items will be identified. Such costs may be deducted from the contracted program cost prior to applying the tuition adjustment calculation.

F. If promissory notes or contracts for tuition are sold or discounted to third parties, the institution and/or third party must comply with this cancellation and settlement policy.

N.M. Admin. Code § 16.34.8.19

16.34.8.19 NMAC - Rp 16 NMAC 34.8.21, 06-16-01