LIM COLLEGE - CALIFORNIA RESIDENTS ENROLLED FULLY ONLINE OR 100% VIRTUAL
CALIFORNIA STUDENT TUITION RECOVERY FUND (STRF)
The following information regarding the Student Tuition Recovery Fund (STRF) is disclosed to students in accordance with the regulations of the California Bureau for Private Postsecondary Education (BPPE) - www.bppe.ca.gov:
The State of California established the Student Tuition Recovery Fund (STRF) to relieve or mitigate economic loss suffered by a student in an educational program at a qualifying institution, who is or was a California resident while enrolled, or was enrolled in a residency program, if the student enrolled in the institution, prepaid tuition, and suffered an economic loss.
Unless relieved of the obligation to do so, you must pay the state-imposed assessment for the Fund STRF, or it must be paid on your behalf, if you are a student in an educational program, who is a California resident, or are enrolled in a residency program, and prepay all or part of your tuition.
You are not eligible for protection from the STRF and you are not required to pay the STRF assessment if you are not a California resident, or are not enrolled in a residency program.
It is important that you keep copies of your enrollment agreement, financial aid documents, receipts, or any other information that documents the amount paid to the school. Questions regarding the STRF may be directed to the Bureau for Private Postsecondary Education, 1747 North Market Blvd, Suite 225, Sacramento, CA 95834, (916) 574-8900 or (888) 370-7589.
To be eligible for STRF, you must be a California resident or enrolled in a residency program, prepaid tuition, paid or deemed to have paid the STRF assessment, and suffered an economic loss as a result of any of the following:
- The institution, a location of the institution, or an educational program offered by the institution was closed or discontinued, and you did not choose to participate in a teach-out plan approved by the Bureau or did not complete a chosen teach-out plan approved by the Bureau.
- You were enrolled at an institution or a location of the institution within the 120 day period before the closure of the institution or location of the institution, or were enrolled in an educational program within the 120 day period before the program was discontinued.
- You were enrolled at an institution or a location of the institution more than 120 days before the closure of the institution or location of the institution, in an educational program offered by the institution as to which the Bureau determined there was a significant decline in the quality or value of the program more than 120 days before closure.
- The institution has been ordered to pay a refund by the Bureau but has failed to do so.
- The institution has failed to pay or reimburse loan proceeds under a federal student loan program as required by law, or has failed to pay or reimburse proceeds received by the institution in excess of tuition and other costs.
- You have been awarded restitution, a refund, or other monetary award by an arbitrator or court, based on a violation of this chapter by an institution or representative of an institution, but have been unable to collect the award from the institution.
- You sought legal counsel that resulted in the cancellation of one or more of your student loans and have an invoice for services rendered and evidence of the cancellation of the student loan or loans.
To qualify for STRF reimbursement, the application must be received within four (4) years from the date of the action or event that made the student eligible for recovery from STRF.
A student whose loan is revived by a loan holder or debt collector after a period of non-collection may, at any time, file a written application for recovery from STRF for the debt that would have otherwise been eligible for recovery. If it has been more than four (4) years since the action or event that made the student eligible, the student must have filed a written application for recovery within the original four (4) year period, unless the period has been extended by another act of law.
However, no claim can be paid to any student without a social security number or a taxpayer identification number.
Effective April 1, 2022: Qualifying institution [LIM College] shall collect an assessment of two dollars and fifty cents ($2.50) per one thousand dollars ($1,000) of institutional charges, rounded to the nearest thousand dollars, from each student in an educational program [administered via 100% distance education (online or virtual format)] 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 zero dollars ($0). Qualifying institution [LIM College] shall collect the assessment from each [applicable] student in an educational program at the time it collects the first payment from or on behalf of the student at or after enrollment.
Students who have questions regarding the STRF may contact the Office of Student Financial Services at (212)752-1530 Ext. 389 or firstname.lastname@example.org.
Updated: October 6, 2022