Okla. Admin. Code § 610:10-1-5
Current through Vol. 42, No. 8, January 2, 2025
Section 610:10-1-5 - Tuition Recovery Revolving Fund(a) Each private institution authorized by OSRHE to operate as a degree-granting institution in Oklahoma shall pay to OSRHE a sum annually to be maintained in the Tuition Recovery Revolving Fund. This payment is in addition to the application and authorization fees established in 610:10-1-4. The payment for initial authorization shall be $2,500.(b) Each private institution authorized by OSRHE shall make payments to the Tuition Recovery Revolving Fund for annual re-authorization as follows:(1) Each private institution shall pay 0.25 percent (.0025) of its annual gross tuition revenue received from students living in Oklahoma at the time of their enrollment.(2) A minimum payment of $250 shall be due annually regardless of the private institution's enrollment or tuition revenue during the applicable year.(3) Private institutions whose payment is not received by the due date will be subject to non-approval of authorization, provisional authorization or revocation of authorization according to the policies and procedures set by OSRHE.(4) The Student Tuition Recovery Fund will be maintained between a minimum and maximum funding level to be determined by OSRHE.(5) Institutions will be assessed annually until the maximum funding level is reached. If the Fund amount is reduced below the minimum funding level, assessments will begin again until the maximum level is regained. If the monies in the fund are insufficient to satisfy all duly authorized claims, OSRHE may reassess authorized institutions as necessary, in addition to the annual assessment, and the authorized institutions shall pay the additional amounts assessed.(c) The assessment, administration, and disbursement of funds from the Tuition Recovery Revolving Fund shall occur according to policies and procedures set by OSRHE.Okla. Admin. Code § 610:10-1-5
Adopted by Oklahoma Register, Volume 41, Issue 21, July 15, 2024, eff. 7/25/2024