Indiana State 51804 Form in PDF

What is the purpose of the Indiana State 51804 form?

The Indiana State 51804 form, also known as the Career College Student Assurance Fund Quarterly Collection (CCSAF-1), is designed for the calculation and processing of quarterly payments to the Career College Student Assurance Fund. The purpose of this fund is to provide indemnification to students or enrollees of postsecondary proprietary institutions who suffer loss or damage due to specified occurrences. This form helps in ensuring that postsecondary proprietary educational institutions contribute to the fund as mandated by the Indiana Code 21-17-3-9 and 570 Indiana Administrative Code (IAC) 1-14, ensuring protection for students.

How often should the State Form 51804 be submitted?

Institutions are required to submit the State Form 51804 quarterly. The quarterly periods begin on January 1, April 1, July 1, and October 1 of each year. The submission is due 45 days from the close of each quarterly reporting and collection period. Therefore, it is important for institutions to prepare their forms and payments timely to meet these deadlines.

What information is needed to complete the State Form 51804?

To complete the State Form 51804, institutions must provide detailed information across several sections of the form. This information includes the COPE advertising code, the reporting quarter, year of the reporting quarter, contact person details, owner information (including legal, partnership, or other entity name), campus information (such as business trade name/DBA, physical address, and contact details), and a substantive report of quarterly earned tuition. Lastly, they must calculate the required contribution to the Career College Student Assurance Fund based on net tuition earned and include an additional required fee, as specified in Section E of the form.

What happens if an institution fails to submit the form and payment on time?

If an institution fails to submit the State Form 51804 and the required payment within the stipulated 45 days from the end of the quarterly period, it may face serious consequences. The failure to comply with the submission requirements could result in the suspension or revocation of the institution's accreditation to operate as a postsecondary proprietary institution within the state of Indiana. It is crucial for institutions to complete and send their forms and payments on time to avoid such penalties and maintain their operational status.

When completing the Indiana State Form 51804, various errors can occur that may lead to processing delays or issues with compliance. Recognizing and avoiding these common mistakes ensures accurate submission and adherence to state regulations.

1. Illegible Handwriting: A frequent oversight is submitting forms with handwriting that is hard to read. Since the form specifies the need for legible printing or typing, unclear handwriting can cause incorrect data recording or additional clarifications, delaying the process.

2. Incomplete Sections: Each section of the form is crucial for accurate assessment and record-keeping. Skipping any part, especially those requiring detailed financial information or campus specifics, can result in incomplete submissions, which may not be processed until fully completed.

3. Incorrect Campus Information: As a separate form is mandated for each campus location, erroneously combining data or providing incomplete campus details can lead to significant reporting inaccuracies, affecting the institution's compliance status.

4. Miscalculated Tuition and Fees: Errors in the calculation of quarterly earned tuition and fees can lead to incorrect fund contribution amounts. It's essential to meticulously cross-verify the totals of gross tuition received, refunds made, and the net tuition earned to ensure the accurate calculation of required contributions.

5. Overlooking the Additional Required Fee: The form includes a line for an additional required fee of $60.00 that must be paid every quarter. Forgetting to add this fee to the total payment can result in underpayment and potential penalties.

6. Not adhering to the Due Date: The stipulated 45-day post-quarter submission deadline is crucial. Delayed submissions can incur penalties or reflect negatively on the institution's compliance record.

7. Sending to the Wrong Address: The form and payment must be sent to the specific address provided on the form. Sending documents to an incorrect address can cause delays.

8. Omission of Signature and Notarization: A duly completed form requires the signature of the person filling it out and notarization. Failure to include these can render the submission invalid.

9. Incorrect Contact Information: Providing outdated or incorrect contact details can result in failure to receive important communication regarding the form or payment processing.

10. Failure to Keep Copies: Not retaining copies of the completed form and payment can be problematic if records are requested for verification or in case of discrepancies.

Avoiding these common errors can facilitate a smoother process and ensure compliance with Indiana’s Career College Student Assurance Fund requirements. For any uncertainties, contacting the commission directly can provide clarity and prevent potential missteps.

Understanding the necessity of thorough documentation in maintaining the regulatory and operational integrity of career colleges in Indiana, State Form 51804 serves as a pivotal component in ensuring these institutions contribute appropriately to the Career College Student Assurance Fund. This form, mandated for quarterly submission, requires meticulous detail regarding tuition collections and refunds to calculate the institution's due contribution to the fund. Alongside State Form 51804, several other documents play a vital role in the administrative orbit of proprietary education providers, ensuring transparency, compliance, and accountability within the education sector.

• Indiana Tuition Report (State Form 49926): This document is essential for annual reporting, providing a comprehensive overview of tuition fees collected from students. It aligns with the quarterly earnings reported on State Form 51804, ensuring annual evaluations reflect the accurate financial engagements of an institution.
• Surety Bond Form: Required for new institutions or under specific conditions as dictated by the Commission, this form secures a bond amount set forth by regulatory authorities. It guarantees the institution's financial commitment towards student refunds and contributes to the financial stability of the assurance fund.
• Application for Proprietary Educational Institution License: Before an institution can begin its operations or even make quarterly contributions, it must be licensed. This document is the initial step in being recognized as a legitimate educational provider in Indiana, setting the stage for all subsequent regulatory compliance activities.
• Change of Ownership Form: Any transitions in ownership must be formally recognized to maintain an institution's operational integrity. This form ensures that all regulatory communications and obligations are correctly aligned with the current ownership structure.
• Quarterly Performance Report: While not directly linked to financial contributions, this document provides a qualitative account of the institution's educational outcomes and operational performance. It complements financial reports by illustrating the institution's value and accountability to both students and regulatory bodies.

Each document serves as a thread in the fabric of regulatory compliance and operational transparency, weaving together a system that upholds the quality and credibility of proprietary education in Indiana. While State Form 51804 captures the financial essence of an institution's quarterly undertakings, the supporting documents ensure a holistic approach to accountability. Together, they fortify the framework that protects students and ensures educational institutions remain a beacon of learning and professional development.

The Indiana State 51804 form, utilized for the Career College Student Assurance Fund Quarterly Collection (CCSAF-1), possesses similarities to other forms and documents employed within the educational and financial compliance sectors. These documents, while serving unique functions, share fundamental attributes regarding the collection and reporting of financial data, regulatory adherence, and institutional accountability. Specifically, the form parallels in structure and purpose to the Federal Student Aid (FSA) Compliance Report and the Institutional Financial Aid Plan (IFAP) Reporting Form, among others.

The Federal Student Aid (FSA) Compliance Report is one such document, designed for educational entities to demonstrate adherence to federal financial aid program regulations. Both the FSA Compliance Report and the Indiana State 51804 require educational institutions to meticulously report financial transactions—namely, the collection and distribution of funds related to student financing—within specific time frames. The core similarity lies in their shared objective: ensuring institutions operate within regulatory financial bounds to protect stakeholders, particularly students. However, while the Indiana State form focuses on a targeted fund to safeguard students at career colleges, the FSA Compliance Report spans broader federal financial aid programs, enforcing comprehensive compliance across various educational institutions.

The Institutional Financial Aid Plan (IFAP) Reporting Form, similarly, mandates the disclosure of financial aid planning and execution by educational institutions. It parallels the Indiana State 51804 form by necessitating detailed reporting on tuition, fees, and aid distribution. Both documents serve a protective role, ensuring financial transparency and accountability to safeguard students' investments in their education. The former emphasizes institutional planning and aid allocation strategies, while the latter specifically calculates quarterly contributions to a state-managed assurance fund. The nuanced distinction underscores the IFAP's broader approach to financial aid structuring against the Indiana form's focused assurance fund contribution mechanism.

When completing the Indiana State 51804 form, known as the Career College Student Assurance Fund Quarterly Collection (CCSAF-1), attention to detail is crucial. To ensure that your submission is accurate and compliant, here's a guide outlining five practices to follow and five pitfalls to avoid.

• Do ensure all sections of the form are completed thoroughly. Leaving blanks may cause delays or raise questions about your submission.
• Do print legibly or type the information. This enhances clarity and prevents misunderstandings or misinterpretations of your data.
• Do make sure to calculate your required FUND contribution correctly, adhering strictly to the formula provided in Section E of the form.
• Do meet the submission deadline, ensuring your completed form and payment arrive within forty-five (45) days from the close of the reporting quarter.
• Do contact the Indiana Commission on Proprietary Education if you have any questions or concerns regarding the form or the submission process.

• Don't forget to include the payment for the Additional Required Fee ($60) every quarter, which is mandatory regardless of tuition revenue status.
• Don't use PO Box numbers for the campus’s physical address; ensure you provide a valid street address.
• Don't neglect to keep a copy of the completed form and payment proof for your records. It's essential for any future queries or discrepancies.
• Don't hesitate to double-check your calculations for total gross tuition/instructional fees and refunds made during the quarter. Accuracy is key to determining the correct net tuition and required fund contribution.
• Don't overlook the opportunity to review the guidelines provided, including pertinent laws and regulations such as IC 21-17-3-9 and 570 IAC, to ensure compliance with all statutory requirements.

Understanding the intricacies of state compliance requirements is crucial for institutions, and the Indiana State 51804 form, which pertains to the Career College Student Assurance Fund (CCSAF), is a critical component for proprietary educational institutions in Indiana. Listed below are eight common misconceptions about this form and the clarifications to correct them:

• Misconception 1: The form is only for for-profit schools. Although primarily used by proprietary (for-profit) educational institutions, the criterion for submission revolves around the institution's accreditation and operational status within Indiana, not the profit status.

• Misconception 2: One form can be used for multiple campuses. Each campus requires a separate form because the assurance fund contributions are calculated based on the specific tuition and fees collected by each location.

• Misconception 3: The form calculates payments annually. Contrary to this belief, the form and consequent payments to the Career College Student Assurance Fund are quarterly requirements, aligning with the institution's collected tuition and fees for each quarter.

• Misconception 4: Only Indiana residents' tuition is considered in calculations. The form requires the reporting of tuition and instructional fees received from all Indiana residents and out-of-state residents instructed within Indiana, ensuring comprehensive financial oversight.

• Misconception 5: The only payable contribution is a percentage of net tuition. While the primary calculation is based on 0.1% of the net tuition, an additional required fee of $60 per quarter is also mandated regardless of the tuition revenue collected.

• Misconception 6: The form does not require detailed campus information. Complete campus details, including the physical address and contact numbers, are required to ensure accurate representation and accountability of each institution's operational location.

• Misconception 7: The fund contribution is the only financial requirement. Alongside the fund contributions, postsecondary proprietary educational institutions may also be required to submit a surety bond, especially for those commencing operation after specific dates, ensuring additional financial security and compliance.

• Misconception 8: Non-compliance has minimal repercussions. Failure to accurately complete the form and remit the appropriate fees may result in the suspension or revocation of accreditation to operate, underscoring the importance of adherence to statutory and regulatory requirements.

In conclusion, the Indiana State 51804 form is an essential document for managing the operational integrity and financial accountability of proprietary educational institutions in Indiana. Understanding and rectifying these common misconceptions can aid in compliance and contribute to the provision of a safer educational environment for students.

Filling out and submitting the Indiana State Form 51804 is an integral part of maintaining the operational compliance of career colleges with the Indiana Commission on Proprietary Education. To help navigate this process, here are ten key takeaways for completing and understanding the form:

• Separate forms for each campus: A unique form is required for every campus location, ensuring that the contributions to the Career College Student Assurance Fund (CCSAF) are accurately tracked and processed on a per-location basis.

• Timely submission: The form, along with the required fund payment, must be submitted within forty-five (45) days from the end of the quarter, adhering to the deadlines set by the Commission to avoid possible penalties.

• Accurate reporting: It's crucial to report the total gross tuition or instructional fees received not just from Indiana residents but also from out-of-state students who were instructed within Indiana, ensuring contributions reflect the actual educational services provided.

• Calculating refunds: The form requires disclosure of the total value of refunds made to students during the quarter, which will be subtracted from the gross tuition to determine the net tuition earned, highlighting the institution's commitment to fair financial practices.

• Contribution amount: The calculation of the required CSAF contribution is based on 0.1% of the net tuition earnings, alongside an additional required fee, solidifying the institution's financial responsibility towards the student assurance fund.

• State and administrative code compliance: By completing this form, institutions adhere to Indiana Code (IC 21-17-3-9) and Indiana Administrative Code regulations, demonstrating legal compliance with state education funding mechanisms.

• Contact information: Providing up-to-date contact and owner information establishes a direct line of communication with the Commission, facilitating easier resolution of inquiries or issues related to the fund contributions.

• Signature requirement: The form must be signed and certified by a notary public, ensuring the authenticity of the information provided and the institution's acknowledgment of its financial and legal responsibilities.

• Investment of fund contributions: Contributions to the fund may be invested by the state treasurer, with any investment gains also being deposited into the fund, reinforcing the financial sustainability of the CSAF.

• Non-reversion of funds: Monies contributed to the CSAF do not revert back to the general state fund, ensuring they remain dedicated to indemnifying students affected by educational disruptions, underscoring the fund's role in student protection.

Understanding and adhering to these guidelines when completing the Indiana State Form 51804 supports career colleges in upholding their financial and legal obligations to both their students and the state, contributing to the overall integrity and accountability of the post-secondary educational system in Indiana.