The postsecondary proprietary educational institution shall pay a refund to the student in the amount calculated under the refund policy specified below or as otherwise approved by the Office for Career and Technical Schools (OCTS). The institution must make the proper refund no later than thirty-one (31) days of the student's request for cancellation or withdrawal.
If a postsecondary proprietary education institution utilizes a refund policy of their recognized national accrediting agency or the United States Department of Education (USDOE) Title IV refund policy, the postsecondary proprietary educational intuition must provide written verification in the form of a final refund calculation upon the request of OCTS, that its refund policy is more favorable to the student than that of OCTS.
The following refund policy applies to each postsecondary proprietary educational institution as follows:
Student Protection Fund
IC 22-4.1-21-15 and IC 22-4.1-21-18 requires each educational institution accredited by the Office for Career and Technical Schools to submit an institutional surety bond and contribute to the Career College Student Assurance Fund which will be used to pay off debt incurred due to the closing of a school, discontinuance of a program, or loss of accreditation by an institution. To file a claim, each student must submit a completed "Student Complaint Form". This form can be found on OCTS's website at http://www.in.gov/dwd/2731.htm.
OCTS Refund Policy