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4.7

Title IV Program Responsibilities
The institution is in compliance with its program responsibilities under Title IV of the 1998 Higher Education Amendments.

Off-site Preliminary Judgment
  Compliant      Non-Compliant      Not Applicable

Narrative

Summary

All pending approval letters from the Department of Education are provided.

Morehouse College has received formal approval to participate in Title IV Federal Student Financial Aid Programs. This approval was received in July 2003 and is effective through March 31, 2009. With its formal approval, Morehouse received its Eligibility and Certification Approval Report and Program Participation Agreement. The financial aid audit (A-133) has been completed for the year ended June 30, 2007.

The College responded on June 11, 2008 to the Department of Education’s letter dated April 15, 2008 pertaining to Audit Finding 06-3, late Return of Title IV Refunds. The response (a part of the A-133 audit) included a review of all Return to Title IV calculations for all students for the 2005-2006 award year, as well as a comprehensive corrective action plan to address audit findings. On June 18, 2008, the Department of Education issued a Final Audit Determination Letter. The College has taken corrective measures to revise systems and improve interdepartmental communications, and facilitate the timely processing of refunds of Title IV funds. To provide assurance that funds will be available from which to make refunds, the College has posted an irrevocable letter of credit, payable to the Secretary of Education, in the amount of $6,368. This represents 25% of total dollars refunded.

 
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