Interest on Refunds for Cosmetology and Barber Schools
Each year, the Commissioner of Education must set and publish deterrence-level interest rates on refunds for cosmetology and barber schools in accordance with Texas Occupations Code, ²¹²Ô»åÌý. The 2023 interest rate for refunds under both statutory provisions is 10 percent.
This interest rate is calculated in January each year by adding 5 percent to the federal short-term borrowing rate and rounding to the nearest whole number.
Contact Information
David Marx (512) 463-2945 or David.Marx@tea.texas.gov
Financial Compliance Division
Phone: (512) 463-9095
Fax: (512) 463-1777
Email: schoolaudits@tea.texas.gov