34 C.F.R. § 600.21 Updating application information.
Title 34 - Education
Link to an amendment published at 71 FR 45692, Aug. 9, 2006. (a) Reporting requirements. Except as provided in paragraph (b) of this section, an eligible institution must report to the Secretary in a manner prescribed by the Secretary no later than 10 days after the change occurs, of any change in the following: (1) Its name, the name of a branch, or the name of a previously reported location. (2) Its address, the address of a branch, or the address of a previously reported location. (3) Its establishment of an accredited and licensed additional location at which it offers or will offer 50 percent or more of an educational program if the institution wants to disburse title IV, HEA program funds to students enrolled at that location, under the provisions in paragraph (d) of this section. (4) The way it measures program length (e.g., from clock hours to credit hours, or from semester hours to quarter hours). (5) A decrease in the level of program offering (e.g. the institution drops its graduate programs). (6) A person's ability to affect substantially the actions of the institution if that person did not previously have this ability. The Secretary considers a person to have this ability if the person— (i) Holds alone or together with another member or members of his or her family, at least a 25 percent “ownership interest” in the institution as defined in §600.31(b); (ii) Represents or holds, either alone or together with other persons, under a voting trust, power of attorney, proxy, or similar agreement at least a 25 percent “ownership interest” in the institution, as defined in §600.31(b); or (iii) Is a general partner, the chief executive officer, or chief financial officer of the institution. (7) The individual the institution designates under 34 CFR 668.16(b)(1) as its title IV, HEA Program administrator. (8) The closure of a branch campus or additional location that the institution was required to report to the Secretary. (9) The governance of a public institution. (b) Additional reporting from institutions owned by publicly-traded corporations. An institution that is owned by a publicly-traded corporation must report to the Secretary any change in the information described in paragraph (a)(6) of this section when it notifies its accrediting agency, but no later than 10 days after the institution learns of the change. (c) Secretary's response to reporting. The Secretary notifies an institution if any reported changes affects the institution's eligibility, and the effective date of that change. (d) Disbursement rules related to additional locations. When an institution must report to the Secretary about an additional location under paragraph (a)(3) of this section, the institution may not disburse title IV, HEA funds to students at that location before it reports to the Secretary about that location. Unless it is an institution that must apply to the Secretary under §600.20(c)(1), once it reports to the Secretary about that location, the institution may disburse those funds to those students if that location is licensed and accredited. (e) Consequence of failure to report. An institution's failure to inform the Secretary of a change described in paragraph (a) of this section within the time period stated in that paragraph may result in adverse action against the institution. (f) Definition. A family member includes a person's— (1) Parent or stepparent, sibling or step-sibling, spouse, child or stepchild, or grandchild or step-grandchild; (2) Spouse's parent or stepparent, sibling or step-sibling, child or stepchild, or grandchild or step-grandchild; (3) Child's spouse; and (4) Sibling's spouse. (Authority: 20 U.S.C. 1001, 1002, 1088, and 1099c) [65 FR 65673, Nov. 1, 2000, as amended at 67 FR 67070, Nov. 1, 2002]
Title 34: Education
PART 600—INSTITUTIONAL ELIGIBILITY UNDER THE HIGHER EDUCATION ACT OF 1965, AS AMENDED
Subpart B—Procedures for Establishing Eligibility
§ 600.21 Updating application information.
