The California Bureau for Private Postsecondary Education (BPPE) has announced a possible change in the Student Tuition Recovery Fund (STRF) rate. Here is the text of the announcement:
Dear School Administrators:
This is notification of a pending change to the Student Tuition Recovery Fund (STRF) assessment rate that may affect the STRF assessment your institution collects in the very near future.
On November 16, 2012, the Bureau submitted a File and Print request to the Office of Administration Law to amend the STRF assessment from two dollars and fifty cents ($2.50) per thousand dollars ($1000) of an institution’s charges to fifty cents ($ .50) per thousand ($1000) of institutional charges.
If this change becomes effective, all institutions will be required to immediately begin collecting the STRF assessment at the new rate of fifty cents ($.50) per thousand dollars ($1000) of institutional charges. The Bureau is anticipating the rate change may become effective as soon as January 1, 2013.
An email notice confirming the effective date will be sent as soon as the Bureau receives approval from the Office of Administrative Law.
Here is the text of the proposed regulation change:
6120. Amount of STRF Assessment. (a) Each qualifying institution shall collect an assessment fifty cents ($.50) per one thousand dollars ($1,000) of institutional charges, rounded to the nearest thousand dollars, from each student in an educational program who is a California resident or is enrolled in a residency program. For institutional charges of one thousand dollars ($1,000) or less, the assessment is fifty cents ($.50).
For more information, visit the BPPE website at: http://www.bppe.ca.gov/