After 71 years of servicing the East Tennessee technology community, Fountainhead College of Technology will cease educational activities on October 31, 2018. The College, formerly known as Tennessee Institute of Electronics, attributes the closure to unfair competition with free college education being offered by the state of Tennessee.
The building will be locked and closed for educational activities. Contact going forward will be through the following email: FCT_Closure@yahoo.com
Your transcripts will be finalized and ready as soon as grades from your last class are in. Yours will be printed and mailed to you. It will also be permanently archived for you at Tennessee Higher Education Commission with all other student, graduate and dropped students’ transcripts. Please go to their webpage at: https://www.tn.gov/thec/bureaus/student-aid-and-compliance/postsecondary-state-authorization/institution-closure-information-2.html There will be a page located here that has continual updates regarding this closure. If you have any questions, please contact the Tennessee Higher Education Commission’s Division of Postsecondary State Authorization at 615-741-5293.
Your Student Accounting:
As noted in our catalog, there are refund policies that are followed when a student does not complete the semester, regardless of whether you withdraw, are terminated or in this case, the College closes. The Academic Catalog is located here: http://ecampus.fountainheadcollege.com/pluginfile.php/66864/mod_resource/content/2/2017%20FCT%20Academic%20Catalog%20XXIII%20May%202017.pdf
For each type of financial aid on your account, there is a procedure.
· State Calculation of UnEarned Aid
Please ignore the State Refund Policy in the Academic Catalog. It calculate what is owed and is therefore no longer applicable. All accounts will be calculated using a pro-rated method, which is more beneficial to you. It will calculate the amount of tuition earned. For example: If you attended 62% of the semester, 38% of your tuition charges will get credited back to your account.
· Title IV Aid
Any Pell Grant, Direct Loans or FSEO Grant will be calculated using the Treatment of Title IV Funds When A Student Withdraws from a Credit Hour Program: https://ifap.ed.gov/aidworksheets/attachments/CreditHourWorksheets2017.pdf
· VA Benefits
Your benefits have most likely been paid on your account through the class ending October 29, 2018. Your benefits will be terminated as of your Last Date of Attendance (as defined in the Academic Catalog.)
We have notified the Department of Education to request that they post a webpage that will help answer your questions about your loans. You may be able to transfer your credits to another college and continue. You may be able to apply to get some or all of your loans discharged. If you completed your associate’s degree and were in the process of getting your bachelor’s degree, you may only be eligible to get the portion past your associate’s degree discharged. These are questions we are working with the Department to get answered for you.
We are working on terminating your benefits as quickly and efficiently as possible so that you are able to relocate them to another college. We have already notified the State Approving Agency. They are responsible for approving and monitoring programs of education where your benefits can be used.
Where to go with your credits:
We are working to determine how you can complete your program of study. If we can develop any agreements with local colleges, we will post that information on our College website.
Tennessee Higher Education Commission
THEC has been notified and is working with us to collect your transcripts and your student accounting detail.
ACCSC has also been notified. They can answer questions if the College’s accreditation is questioned in the future. They are otherwise not staffed to take many calls and assist students. They defer to the Tennessee Higher Education Commission in this respect.