What is the For-Profit School Disclosures Policy?

Under Iowa Code Section 714.25, certain for-profit schools are required to provide student consumer information disclosures.

What schools must provide disclosures? 

A for-profit school that offers at least one program leading to a recognized postsecondary credential, which may include but is not limited to:

  • An academic or professional degree, diploma, license, or other certification or designation, regardless of whether the school awards the credential.
  • A certificate, badge, or other type of professional credential awarded by a corporation or employer (e.g., “microcredentials” issued by software companies like Microsoft, Adobe, etc).

Which for-profit schools do not have to adopt the 714.25 disclosure policy?

  • For-profit schools that are eligible for federal financial student aid
  • Personal vehicle driving education schools
  • Postsecondary vocational schools that offer solely discrete continuing education courses
  • A for-profit school that offers solely programs for which the sum of tuition, fees, instructional materials, technology, and other items required for program completion is less than three thousand dollars
  • A newly authorized for-profit school is exempt from data reporting until the school’s first biennial financial responsibility renewal application.

What information must be disclosed?

A for-profit school offering a recognized educational credential shall, prior to the time a student is obligated for payment of any funds, inform the student, and the college student aid commission of all of the following data. 

  • The current total cost of the postsecondary educational program as charged by the for-profit school. 
  • An estimate of fees that may be charged to the student by others in order to obtain a recognized educational credential, including but not limited to fees for examination or licensure. 
  • The percentage of students who successfully complete the postsecondary educational program, and the percentage who terminate prior to completing the postsecondary educational program*. 
  • If claims are made by the for-profit school as to successful placement of students in jobs upon completion of the for-profit school’s postsecondary educational programs, the for-profit school shall provide the student with all of the following*: 
    • The percentage of graduating students who were placed in jobs in fields related to the postsecondary educational programs. 
    • The percentage of graduating students who went on to further education immediately upon graduation. The percentage of students who, ninety days after graduation, were without a job and had not gone on to further education. 
    • The method by which the for-profit school collected and verified the validity of data. 
  • If claims are made by the for-profit school as to income levels of students who have graduated and are working in fields related to the for-profit school’s postsecondary educational programs, the for-profit school shall inform the student of the method used to derive such information. 

*Schools should include the following information: 1) the applicable program name and the normal length of time required to complete the program; 2) the total number of students in the cohort for which data is reported and the year in which the students began the program; and 3) the percentage of students that met the conditions and the most recent ending date for program completion in each of the school’s programs.

Who receives the disclosures?

  • Current and Prospective Students
  • Iowa College Student Aid Commission

How does a school demonstrate compliance?

A school demonstrates compliance as part of the school’s application for authorization to operate under RegistrationExemption from Registration, or Financial Responsibility.


Contact the Postsecondary Authorization Team