Department of Education Releases Updated Federal Program Review Guide
The U.S. Department of Education released the 2017-2018 Federal Program Review Guide for financial aid administrators on June 2, 2017. The guide was made available for download via the IFAP website. The Federal Program Review Guide has been updated to reflect the latest Title IV regulatory compliance requirements. The purpose of the guide is to assist institutions who are preparing for or currently undergoing a federal program review. A federal program review is the means by which the Department of Education can confirm that a school is meeting FSA requirements for institutional eligibility, financial responsibility and administrative capability.
Common Triggers for a Title IV Federal Program Review
When an updated Federal Program Review Guide is released, it can certainly cause an institution to question or wonder how a college or university might be selected by the Department for such a review. Below are some common “triggers” that may prompt a school to be selected for a Title IV federal program review:
- High cohort default rate
- Significant changes in Direct Loan or Pell volume
- Late refunds
- Deficiencies reported by state licensing or accrediting agencies
- Financial responsibility standards
- High withdrawal rates
- Significant audit findings
- Repeat findings or recurrent problems
- Significant risk of noncompliance with administrative capability
- Complaints from students or adverse publicity
- Institutions that haven’t had a review in a number of years
- Frequent change in financial aid leadership
Need Help with a Title IV Review?
HEAG has helped public and private colleges and universities as well as community colleges and proprietary schools successfully complete a federal program reviews. Additionally, HEAG has assisted in the appeal process for those schools that have already undergone a review and are now in receipt of their Final Program Review Determination (FPRD). If you have federal program review concerns, contact us today at 617.928.1975 or email firstname.lastname@example.org.