13.6 Federal and state responsibilities

The institution (a) is in compliance with its program responsibilities under Title IV of the most recent Higher Education Act as amended and (b) audits financial aid programs as required by federal and state regulations.

Judgment

x Compliance o Non-Compliance o Partial Compliance

Narrative

A. The institution is in compliance with its program responsibilities under Title IV of the most recent Higher Education Act as amended.

UL Lafayette is in compliance with its program responsibilities under Title IV, and there are currently no issues with the University’s Title IV programs. The University has no limitation, suspension, or termination action by the U.S. Department of Education with regard to student financial aid or other federal programs. Furthermore, the institution is authorized through September 30, 2024 to participate in Federal Student Financial Aid Programs under the Program Participation Agreement. As demonstrated by its Eligibility and Certification Approval Report, The University has not been placed on the reimbursement method, nor has it been required to obtain a letter of credit in favor of the Department of Education.

The institution meets the requirements described in the Federal Student Aid Blue Book. Specifically:

· The institution’s Financial Aid Organizational Chart and staff listing show that it has the administrative capability required.

· The institution provides Student Consumer Information.

· The institution meets the Records Maintenance and Retention Requirements as outlined in the Federal Student Aid Handbook, Ch. 7, which states that institutions must keep comprehensive, accurate program and fiscal records related to its use of FSA program funds and must retain all required records for a minimum of three years. The University is committed to ensuring that all students’ FSA records are governed by the student confidentiality rights of the Family Educational Rights and Privacy Act (FERPA).

B. Audits

UL Lafayette regularly audits financial aid programs as required by federal and state regulations.

· The AY2016-2017 A-133 Audit required by the U.S. Office of Management and Budget shows that UL Lafayette meets the Financial Responsibility Standards and that there are no material weaknesses or significant deficiencies identified. There was one finding in the 2017 A-133 Audit regarding timely return of Title IV funds. The University’s leadership has addressed these issues by implementing procedural and processing changes to avoid this finding in the future.

In April of 2015, the U.S. Department of Education performed a Program Review of the 2014-2015 award year. UL Lafayette complied with all requirements and corrected all findings discovered during the review. The University received the Final Program Review Determination Closeout Letter on May 15, 2018.

The University’s Cohort Default Rates (CDR) between 2012 and 2015 are as follows:

· 2015 3-Year Draft CDR – 6.8%

· 2014 3-Year Official CDR – 7.9%

· 2013 3-Year Official CDR – 7.8%

· 2012 3-Year Official CDR – 7.6%