
For-Profit School Disclosures
What schools must provide disclosures?
A for-profit school that meets both of the following conditions:
- Does not participate in the federal student aid programs;
- Offers at least one program of more than four months in length leading to a recognized postsecondary educational credential. This credential may include but is not limited to a:
- Degree, diploma, license, or certificate issued by the school; or
- Professional license or certification issued or otherwise required by the State; or
- Certificate, badge, or other type of professional credential awarded by a corporation or employer (e.g., “microcredentials” issued by software companies like Microsoft, Adobe, etc).
What information must be disclosed?
A for-profit school must disclose (prior to the time a student is obligated for payment of any monies), the following:
- Total estimated program(s) cost;
- Estimated fees charged by third parties (e.g., to sit for a professional licensure examination or obtain a professional license);
- The percentage of students who have completed the school’s program of study or have terminated (i.e., withdrawn).
Note: The school must disclose the period of time over which this data was collected, which must be no less than one year and no more than five years.
- If a school makes job placement claims, the school must disclose the percentage of graduates who were:
- Placed in fields related to the school’s program;
- Enrolled immediately upon graduation in subsequent postsecondary education;
- Unemployed 90 days after graduation and who had not enrolled in subsequent postsecondary education.
Note: The school must disclose the period of time over which this data was collected, which must be no less than one year and no more than five years.
- If a school makes claims about income earned by graduates in the profession in which the school prepares students, the school must explain how that information was derived.
Who receives the disclosures?
- Current and Prospective Students
- Iowa College Student Aid Commission
- Board of Cosmetology Arts and Sciences (if applicable)
- Board of Barbering (if applicable)
See Iowa Code Section 714.25.
How does a school demonstrate compliance?
A school demonstrates compliance as part of the school’s application for authorization to operate under Registration, Registration Exemptions, or Financial Responsibility.
Who do I contact?
For further information, contact the Postsecondary Authorization Team.