An institution shall demonstrate that it complies if required with the Title IV program responsibility requirements of the Higher Education Reauthorization Act as most recently amended. Therefore, institutions will provide for Commission review any documents concerning the institution’s program responsibilities under Title IV of the Act, including any results of financial or compliance audits and program reviews, audits reports by the Office of Inspector General of the U.S. Department of Education, and any other information related to its fulfillment of its Title IV responsibilities.
Default rate. An institution shall make reasonable efforts to ensure that its students do not take on excessive debt either through federal or private loans. An institution shall also demonstrate that it is appropriately fulfilling its Title IV responsibilities to manage its student loan program, to minimize student default on such loans, and to provide accurate information to the U.S. Department of Education when required in conjunction with its loan program. Therefore, an institution will submit to the Commission information about its participation in federal and private loan programs as well as its three-year Title IV default rates and any default reduction plans provided to the U.S. Department of Education.
Last Revised: June 2012
First Adopted: February 1996
Revision History: Adopted February 1996, effective September 1996, revised February 1998, edited October 2003, renumbered November 2010, revised and renumbered June 2012.
Notes: Former policy number: 4.0(e)
Policy Number Key
Section FDCR: Policies Required by Federal Regulation
Chapter A: Federal Compliance
Part 10: General