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AwardYear: 1998-1999 EnterChapterNo: 3 EnterChapterTitle: Institutional Eligibility and Administrative Requirements SectionNumber: SectionTitle: Contents PageNumbers: INTRODUCTION . . . . . 1 Updates . . . . . 1 SECTION 1: INSTITUTIONAL AND PROGRAM ELIGIBILITY . . . . . 5 The Three Definitions of Eligible Institutions . . . . . 5 Chart: Eligible School Definitions . . . . . 6 Control and Legal Authorization . . . . . 7 Accreditation . . . . . 8 Admissions Standards . . . . . 9 "Two-Year" Rule . . . . . 10 Program Eligibility Requirements . . . . . 10 Weeks of Instruction and the 12-Hour Rule . . . . . 13 Additional Eligible Program Requirements . . . . . 14 Clock Hour/Credit Hour Conversions . . . . . 15 Other Eligibility Factors . . . . . 18 Foreign Schools Eligible for FFEL Programs . . . . . 23 Reporting Information on Foreign Sources . . . . . 24 SECTION 2: GENERAL PARTICIPATION REQUIREMENTS . . . . 27 The Program Participation Agreement . . . . . 27 Financial Responsibility . . . . . 30 Standards of Administrative Capability . . . . . 30 Project EASI . . . . . 38 Definition of a Payment Period . . . . . 39 Academic Year Requirements . . . . . 44 Contracts with Third-Party Servicers . . . . . 47 Anti-Drug Abuse Requirements . . . . . 50 Anti-Lobbying Certification and Disclosure . . . . . 52 SECTION 3: CASH MANAGEMENT . . . . . 55 General Requirements . . . . . 55 Requesting Funds . . . . . 56 Maintaining and Accounting for Funds . . . . . 60 Disbursing Funds . . . . . 62 Disbursement by Payment Period . . . . . 65 Early and Late Disbursements . . . . . 66 Credit Balances and Prior-Year Charges . . . . . 68 Required School Notifications . . . . . 70 Required Student Authorizations . . . . . 72 Excess Cash . . . . . 74 Administrative Cost Allowance . . . . . 75 SECTION 4: REFUNDS AND REPAYMENTS . . . . . 77 Required Policies and Procedures . . . . . 79 Fair and Equitable Refund Requirement . . . . . 80 Comparing to Determine the Largest Refund . . . . . 82 Withdrawal Date . . . . . 84 Approved Leave of Absence . . . . . 86 Period of Enrollment for Which the Student Has Been Charged . . . . . 86 Determining Institutional and Noninstitutional Charges . . . . . 87 Unpaid Charges . . . . . 88 Late Disbursements . . . . . 90 Credit Balances . . . . . 92 Pro Rata Refund Calculations . . . . . 92 Federal Refund Policy Calculations . . . . . 95 Repayment Calculations . . . . . 97 Refunds of $25 or Less and Repayments under $100 . . . . . 98 Allocating Refunds and Repayments . . . . . 98 Time Frames for Return of Funds . . . . . 100 Case Studies . . . . . 103 SECTION 5: AGREEMENTS BETWEEN SCHOOLS . . . . . 133 Consortium Agreement . . . . . 134 Contractual Agreement . . . . . 135 Study Abroad or Domestic Exchange Programs . . . . . 136 SECTION 6: PROGRAM REVIEWS AND AUDITS . . . . . 137 Audit Requirements for Schools . . . . . 137 Types of Audit Guidelines . . . . . 139 Audit Submission Dates . . . . . 139 Compliance Audit Submission Requirements . . . . . 141 Financial Statement Submission Requirements . . . . . 141 Audits for Foreign Schools . . . . . 142 Audits for Third-Party Servicers . . . . . 143 Having the Audit Performed . . . . . 144 Program Reviews . . . . . 146 Guaranty Agency Reviews . . . . . 147 Appealing Audit and Program Review Determinations . . . . . 147 Quality Assurance Program . . . . . 148 Experimental Sites Initiative . . . . . 149 SECTION 7: RECORDKEEPING AND DISCLOSURE . . . . . 153 Required Records . . . . . 153 Record Retention Periods . . . . . 157 Record Maintenance . . . . . 159 Examination of Records . . . . . 160 Disclosing Student Information . . . . . 161 SECTION 8: STUDENT CONSUMER INFORMATION . . . . . 165 Basic Consumer Information Requirements . . . . . 166 Job Placement Rates . . . . . 168 Campus Security . . . . . 168 Student Right to Know . . . . . 175 Equity in Athletics . . . . . 185 PPA Requirements for Schools Awarding Athletically Related Financial Aid . . . . . 188 Loan Counseling . . . . . 189 Drug and Alcohol Abuse Prevention Information . . . . . 190 Misrepresentation . . . . . 191 Equity in Athletics--Optional Form . . . . . 193 SECTION 9: APPLYING FOR AND MAINTAINING PARTICIPATION IN THE SFA PROGRAMS . . . . . 201 Applying to Participate . . . . . 201 When to Submit a Fully Completed Application . . . . . 210 Substantive Changes and How to Report Them . . . . . 217 Single Identifier Initiative . . . . . 223 Requirements When a School Ceases to be an Eligible Institution . . . . . 224 Requirements When a School's SFA Participation Ends . . . . . 225 Case Management . . . . . 228 Corrective Actions and Sanctions . . . . . 229 |
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