Asset Sale

Any PCC that has not contacted the PCC Branch of Advanced Education to initiate the Branch’s sales process before May 29, 2020, will be subject to this policy. PCCs that have initiated the sales process with the PCC Branch before May 29, 2020, will not be impacted.

In the event of an asset sale, the educational institution will be treated as a new educational institution. The new educational institution must meet all Institution Designation Criteria and the new owner has two options:

1. Do not retain the previous educational institution’s designation status and reapply for designation status as a new educational institution. All prior history (including repayment rate and compliance history), rights, and obligations associated with the previous educational institution designation will no longer apply to the new institution. Under this option, the new educational institution is subject to the Institution Designation Waiting Period.
   
   
2. Retain the previous educational institution’s existing designation status. By retaining the previous educational institution’s designation status, the new owner retains and accepts all prior history (including repayment rate and compliance history), rights, and obligations with respect to the previous educational institution designation. Under this option, the new educational institution is not subject to the Institution Designation Waiting Period.

Share Sale

In the event of a share sale, the educational institution’s new owner must retain the existing designation status. By retaining the existing designation status, the new owner retains and accepts all prior history (including repayment rate and compliance history), rights, and obligations with respect to designation.

The educational institution’s new owner will be responsible for past repayment rate results and will be required to address any concerns that Alberta Student Aid may have regarding those results.