Relating to schools that are required to register with the college student aid commission

This bill relates to schools that are required to register with the college student aid commission.23, which provides standards for refund policies and penalties for violating those standards.23 is a simple misdemeanor. A simple misdemeanor is punishable by confinement for no more than days and a fine of at least $105 but not more than $855. The bill requires the school to submit the refund policy to the college student aid commission. Under current law, the provisions of Code chapter 261B do not apply to colleges and universities authorized by the laws of this state to grant degrees. The bill strikes this exception and replaces it with an exception for community colleges established under Code chapter 260C and institutions of higher learning under the control of the board of regents. Additionally, under current law, the provisions of Code chapter 261B do not apply to either a postsecondary educational institution established in Bettendorf in 1969 to prepare students for the federal communications commission radio broadcasting examination or a school of religious study located in Iowa that was established in Spain in 1982, is affiliated with the department of global missions of open bible churches, grants bachelor’s degrees, and is accredited by a nationally recognized accrediting agency. The bill strikes these exceptions.