State efforts are underway to minimize the negative impact on students of Regency Beauty Institute, which announced last night it is closing all of its 79 campuses, effective immediately. Five campuses are located in Minnesota and enroll approximately 430 students.
The Minnesota Office of Higher Education (OHE) and the Minnesota Board of Cosmetologist Examiners are working with the school to secure students records, assist with transfers to other schools and mitigate financial hardship caused by the closing.
"There are state and federal resources available to help students impacted by a sudden school closure, including possible student refunds and federal loan forgiveness," said Commissioner Larry Pogemiller, Office of Higher Education. "Our office is working with both Regency and the Board to make this information available to students as soon as possible, and moving forward, to help them continue their program at another school."
Current students and those who have withdrawn in the last 120 days may be eligible for closed school discharge of their federal loans. OHE and the Board also have access to bonds that could provide partial refunds for current students. This information will be available in the coming days.
More information for students is also available on the Regency website.