Federal Mandate 4.7 (complies with Title IV regulations)
The institution is in compliance with its program responsibilities under Title IV of the 1998 Higher Education Amendments. (In reviewing the institution’s compliance with these program responsibilities, the Commission relies on documentation forwarded to it by the Secretary of Education.)

Compliance
North Carolina State University is in compliance with this mandate.

Explanation
NC State University complies with all federal rules and regulations governing the administration of Title IV federal financial aid programs. The university has been approved to participate in all federal aid programs and recertified as required without exception or delay. The university submits all federal financial aid reports in a timely fashion, receives annual allocations of Title IV Campus-Based Aid funds from the Department of Education, and is audited as required to assure administrative responsibility and appropriate cash management capabilities.

In addition to annual audits, NC State University took part in a federal program review of financial aid administration in 1995. The program review resulted in three minor findings; these have been resolved to the satisfaction of the Department of Education. We continue to operate according to the department’s regulations.

NC State University has consistently demonstrated the ability to use federal aid allocations fully, to award funds within the established rules and regulations for each program, and to be accountable for funds expended. The FY 2000 Federal Family Education Loan Programs Cohort Default Rate for NC State University (the most recent rate available) is 3.2%, following a trend of similarly low rates that have ranged from 2.5% to 3.5% over the past five years.

The Secretary of Education can confirm that the university is in full compliance with Title IV of the 1998 Higher Education Amendments. Copies of the university’s most recent letter of recertification to participate in federal aid programs and copies of annual campus-based allocation letters are available in the NC State University Office of Scholarships and Financial Aid.

References

Background information on program requirements is available via the Department of Education website (http://www.ed.gov/index.jsp)

NC State University’s Federal Family Education Loan Programs Cohort Default Rates for FY 1998-2000 (http://www.ed.gov/offices/OSFAP/defaultmanagement/)

NC State University’s recertification and allocation letters are available in the Office of Scholarships and Financial Aid