283—12.2 (261) Tuition grant institutional eligibility requirements.
	 12.2(1) Institutional eligibility under Iowa Code section 261.9. An Iowa college or university requesting participation in the Iowa tuition grant program must apply to the college student aid commission using the commission’s designated application.
A college or university participating in the Iowa tuition grant program (Iowa Code section 261.9, et seq.) must:
	  a.   	 Be accredited by the North Central Association of Colleges and Schools (NCA); and
	  b.   	 Be exempt from taxation under Section 501(c)(3) of the Internal Revenue Code or, if not exempt under Section 501(c)(3), the college or university must have been an eligible participant during the 2003-04 academic year; and
	  c.   	 Annually provide matching aggregate institutional financial aid to Iowa tuition grant recipients equal to a required percentage of the amount received by its students under the Iowa tuition grant program. (Specialized colleges offering health professional programs affiliated with health care systems located in Iowa are exempt from this requirement.); and
	  d.   	 Be located in Iowa. “Located in Iowa” means a college or university accredited by the Higher Learning Commission of the North Central Association of Colleges and Schools, that has made a substantial investment in a permanent Iowa campus and staff, and that offers a full range of courses leading to the degrees offered by the institution as well as a full range of student services.
	 12.2(2) Processing college and university applications. Application forms will be provided by the commission.
Applicant colleges and universities are required to provide the commission with documentation establishing eligibility as described in 12.2(1).
Colleges and universities seeking to participate in the Iowa tuition grant program must submit applications by January 1 of the year prior to the beginning of the academic year for which they are applying for participation.
Applicant colleges and universities must submit written plans outlining academic programs that integrate summer attendance in accelerated programs prior to making summer awards. If the summer program is approved by the commission, an applicant’s students may receive Iowa tuition grants beginning in the summer following approval. Academic programs, defined by colleges or universities, which allow students to complete four-year baccalaureate programs in less than the normal prescribed time period while taking the same courses as students completing the same degree during a traditional four-year time period will be approved. A summer academic program may be defined for a group of students or may be a self-directed program in which a student has received approval from appropriate officials of the college or university.
	 12.2(3) Notice of change of status. Any college or university which loses NCA accreditation or 501(c)(3) status or fails to make the institutional match must immediately notify the commission. Failure to comply with this notice of change requirement may result in the college or university being required to return Iowa tuition grant funds to the commission.
	 12.2(4) Review of eligibility.
	  a.   	 The commission shall periodically, at least every three years, investigate and review compliance of institutions participating in the tuition grant program with criteria described in Iowa Code section 261.9 and this rule.
	  b.   	 If the commission finds that a college or university fails to comply with the provisions of Iowa Code section 261.9 and this rule, participation in the tuition grant program shall be suspended.
	 12.2(5) Reporting requirements. Every college or university participating in the Iowa tuition grant program shall submit an annual report which includes student and faculty information, enrollment and employment information, the amount of institutional matching financial aid dollars, and other information required by the commission as described in Iowa Code sections 261.9 through 261.16.