The Washington Student Achievement Council adopted revised regulations for the bond requirement for degree granting institutions to provide that institutions seeking initial standard authorization as a result of a change in ownership or control, the surety bond or security amount for the initial period of authorization must be for 10% of the preceding fiscal year’s total tuition and fee revenue received for educational services in Washington, but not less than $50,000 for each authorized site with administrative capability.
Existing regulations require institutions seeking initial standard authorization, the surety bond or security amount for the initial period of authorization must be for $50,000 for each proposed site with administrative capability.
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