(A)Each school that holds a certificate of registration from or is authorized to offer a certificate, diploma, or degree under a certificate of authorization issued by the state board of career colleges under this chapter annually shall provide to the state board and the chancellor of higher education all of the following:
(1)Verification of current accreditation status and a copy of the most recent institutional report from the school's accrediting organization;
(2)A plan to preserve student records indefinitely in the event of closure of the school or discontinuation of service. The plan shall include a method by which students and alumni of the school may retrieve student records by request. The plan also shall include a designation and signed confirmation of an official custodian
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(A) Each school that holds a certificate of registration from or is authorized to offer a certificate, diploma, or degree under a certificate of authorization issued by the state board of career colleges under this chapter annually shall provide to the state board and the chancellor of higher education all of the following:
(1) Verification of current accreditation status and a copy of the most recent institutional report from the school's accrediting organization;
(2) A plan to preserve student records indefinitely in the event of closure of the school or discontinuation of service. The plan shall include a method by which students and alumni of the school may retrieve student records by request. The plan also shall include a designation and signed confirmation of an official custodian of student records. Student records preserved under the plan shall include, but not be limited to:
(a) Academic transcripts;
(b) Financial aid documents;
(c) International student forms;
(d) Tax information.
(3) The following program information:
(a) A list of current degree programs offered by the school in this state;
(b) The results of any external degree program evaluations conducted in the last year;
(c) A list of any degree programs that have been eliminated in the last year;
(4) The latest financial statement for the most recent fiscal year compiled and audited by an independent certified public accountant, including any management letters provided by the independent auditor;
(5) Any other information requested by the state board or the chancellor.
(B) If a school fails to submit the information required under division (A) of this section or if the state board or the chancellor finds that the information submitted under that division is insufficient, the state board may suspend, withdraw, or revoke a school's certificate of registration or program authorization.
(C) Each school subject to this chapter that is authorized to offer courses or degrees under a certificate of authorization shall immediately notify the state board and the chancellor if the school does any of the following:
(1) Receives notice from the federal government or an institutional accrediting organization that the school is subject to heightened reporting standards or special monitoring status, such as the United States department of education's heightened cash monitoring process;
(2) Receives preliminary or final accreditation findings;
(3) Becomes the subject of an investigation by a government agency related to the school's academic quality, financial stability, or student consumer protection;
(4) Fails to make any payments to applicable retirement systems;
(5) Fails to make any scheduled payroll payments;
(6) Fails to make any payments to vendors when due as a result of a cash deficiency or a substantial deficiency in the payment processing system of the school;
(7) Fails to make any scheduled payment of principal or interest for short- or long-term debt;
(8) Makes budget revisions resulting in a substantially reduced ending fund balance or larger deficit;
(9) Becomes aware of significant negative variance between the most recently adopted annual budget and actual revenues or expenses as projected at the end of the fiscal year.
(D) A document received by the state board or the chancellor under division (C)(1), (2), or (3) of this section that is confidential under federal law is not subject to release under a public records request until such time as the document is released publicly by the appropriate entity. Further, financial documentation of the school received by the state board or the chancellor under this section is not a public record under section149.43of the Revised Code.
Last updated August 6, 2025 at 5:29 PM