4.7 The institution is in compliance with its program responsibilities under Title IV of the most recent Higher Education Act as amended. (In reviewing the institution’s compliance with these program responsibilities, the Commission relies on documentation forwarded to it by the U.S. Department of Education.) (Title IV program responsibilities)
The University of New Orleans is in full compliance with all program responsibilities under Title IV of the 1998 Higher Education Amendments. All non-Federal entities that expend $500,000 or more of Federal awards in a year are required to obtain an annual audit in accordance with the Single Audit Act Amendments of 1996, OMB Circular A-133, the OMB Circular Compliance Supplement and Government Auditing Standards.
The Office of the State of Louisiana Legislative Auditor annually prepares a single audit report that includes every public university in the state. Biennially, that audit includes a detailed review of federal financial aid programs and Title IV programs administered by the University of New Orleans. This annual audit meets the requirements prescribed by the U.S. Department of Education, in accordance with the Office of Management and Budget (OMB) Audit Criteria A-133.
In addition to the Legislative Audits, the University’s internal auditor may review the disbursement of federal and state financial aid awards and the accompanying documentation.
In the Legislative Auditor’s Management Letter for Fiscal Year 2012-2013 issued on December 26, 2013, there were no audit findings in regards to Financial Aid or Title IV programs; however, the University was cited for an Inaccurate Annual Report.
The Financial Aid Office at the University of New Orleans complies with the requirements and program responsibilities under Title IV. Since the 2005 reaffirmation, the University of New Orleans:
- has not been placed on the reimbursement method;
- has not been required to obtain a letter of credit in favor of the U.S. Department of Education;
- is unaware of any complaints filed with the U.S. Department of Education regarding the institution;
- has no significant impending litigation issues with respect to financial aid activities;
- does not have any significant unpaid dollar amounts due back to the U.S. Department of Education;
- has had no adverse communication from the U.S. Department of Education; and
- is not aware of any infractions of regulations that would jeopardize Title IV funding.
The University’s loan default rate is within acceptable parameters. The draft three year 2011 Cohort Default Rate was 9.1%. UNO’s 2010 draft three year rate was 10%. The University uses several strategies to fulfill its responsibility to maintain its default rate within acceptable limits. As first time borrowers at UNO, students are required to complete entrance counseling (available online), even if they have received a loan at a prior institution. Counseling students not to borrow more money than needed to meet educational expenses is also standard procedure. The Net Price Calculator, a link from the University’s Prospective Students page, allows students to calculate their individual financial responsibilities.
Financial Aid Office at the University of New Orleans
The Office of Enrollment Services Financial Aid website provides information for students about Title IV and other financial assistance programs. The financial aid website provides detailed information about applying for aid, deadlines, and university policies, types of aid, required Satisfactory Academic Progress standards, Stafford loans, and specialized information for transfer students. The FAQ's section on the Website also has detailed information.
The Financial Aid Office at the University of New Orleans currently offers the following Title IV programs:
- Pell Grant
- Supplemental Educational Opportunity Grant (FSEOG)
- Teacher Education Assistance for College and Higher Education (TEACH) Grant
- Iraq and Afghanistan Service Grant***
- Federal Work-Study
- Federal Perkins Loan
- Direct Subsidized Loans
- Direct Unsubsidized Loans
- Direct PLUS loans
***We do not have an active participant in this program as of spring 2014, but it is highly likely we will in the future.
The University of New Orleans also participates in the state’s GO Grant program, a need-based financial assistance program for low-and moderate-income students. These grants cover the education cost gap (unmet need) greater than zero of students who are Pell recipients.
Data regarding the number of students receiving financial aid and the amount of aid disbursed for the past three years can be found in the Federal Aid Three Year Report.
|Applying_for_Financial_Aid||Steps for applying for Financial Aid|
|Code_of_Conduct_and_Privacy_Policy_UNO||Policy on Code of Conduct at UNO|
|Cohort_Default_Rate_History_List||History of Cohort Default Rates|
|Dates_and_Deadlines_UNO||Financial Aid deadlines at UNO|
|Entrance_Counseling_Student_Loans||Student Loan Counseling|
|Federal_Aid_Three_Year_Report||Federal Aid Three Year Report|
|Financial_Aid_and_FAQs_UNO||Facts and Questions regarding Financial Aid at UNO|
|Financial_Aid_and_Transfer_Students||Information for Transfer Students to Apply for Financial Aid|
|Financial_Aid_Home_UNO||Financial Aid website|
|LLA_Management_Letter_2013||Legislative Auditor's Management Letter for Fiscal Year 2012-2013|
|Net_Price_Calculator||Financial Aid, Net Price Calculator|
|Satisfactory_Academic_Progress_ (SAP)_Policy_UNO||Policy on Satisfactory Academic Progress (SAP)|
|Types_of_Financial_Aid_UNO||Financial Aid offered at UNO|
|Updated_Default_Rate_ Feb_2014||Three year Cohort Draft Rate|