Our office received notification on Wednesday evening, September 28, 2016, that Regency Beauty Institutes was permanently closing its doors at all 79 campuses.
The company cited cash flow issues with continuing to run the business, in addition to the gainful employment regulations imposed by the federal government at for-profit and other vocational programs.
Two Minnesota campuses have mailed physical records to the corporate office, and the remaining campuses' records have been recovered by our office. Our office is diligently working to gather updated the remaining records, transcripts from the Minnesota campuses, and updated student account statements for students.
The US Department of Education will be sending out information via email to students who were currently enrolled as of the institution's closure this Thursday. Additionally, information is available on their website.
Students may apply for a closed school discharge or transfer earned credits (hours) to another institution to continue their education in a comparable program. Information on these processes is available at the above link.
For students wishing to transfer their credits (hours) to another school, financial aid may be impacted. The US Department of Education's Office of Federal Student Aid is currently working with Regency Beauty Institutes to close-out and reconcile accounts, and reinstate student loan and Pell grant eligibility for students who had future disbursements of aid scheduled or refunds due for un-earned tuition dollars. It is the US Department of Education's understanding that Regency Beauty Institutes is working on financial aid refund calculations, reconciliations, and reporting downward adjustments to restore financial aid eligibility at your new school. Financial aid payments may be delayed until Regency Beauty Institutes and the US Department of Education are able to close your financial aid file with Regency.
Minnesota does not have a Tuition Recovery Fund. If you paid using private funds or cash, any recovery of funds owed to you will be prorated based on the amount of bond funds our office and the Minnesota Board of Cosmetologist Examiners can collect on, and the amount you paid for hours that were not completed in the program. Students can file a claim with our office with a copy of their student account statement, or they can wait to see if our office will be able to get student accounts information and we will make the claim for them.
Minnesota Regency students can contact our office to obtain a copy of their Skills Certification or Practical Exams in order to assist in transfer arrangements or to obtain your license if you were a completer. Our office has obtained most of the records from Regency's Minnesota campuses; however, our office has not yet obtained copies of updated transcripts or student account statements.
Once our office obtains the transcripts and student account statements, we will send out an email to Regency's current enrollment as of the date of closure, to inform you of the process for requesting your records. Our office will be providing copies of transcripts to students for a period of 6-months at no charge.
Transcripts will also be available through Parchment once Regency has finalized that arrangement.
Our office has obtained electronic transcripts for the Regency Campuses in Minnesota. If you are a former student of Regency Beauty Institute and wish to obtain an official copy of your transcript, please contact our office at (651) 624-0567. You may also request a transcript by filling out an inquiry on our website. You must include your first and last name at the time you attended Regency Beauty Institute, the dates you attended the institution, and the address or email where you would like your records sent. Please note that an official copy of your transcript must be mailed, as it needs to be in a sealed envelope.
Our office also has some of the Practical Skills Test records and Skills Certifications for students who attended Regency Beauty Institute. If you would like to obtain a copy of these records, you must call our office at (651) 624-0567 to make an inquiry as to whether we have a copy of your records.
Our office is waiving the $15 transcript fee for former students of Regency Beauty Institute through April 21, 2017. It is Regency Beauty Institute's intent to also transfer records to Parchment to digitize and deliver transcripts to students. Parchment does require a fee for records.
The Office of Federal Student Aid has posted information on how to determine what constitutes a comparable program of study for purposes of a closed-school discharge.