Federal Requirement 4.8:

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

The Institution Certifies Compliance: Yes

Compliance report completed by: Audit Team 40

Statement of Rationale for Judgment of Compliance:

The University of Memphis meets all audit and review standards for administration of Title IV student aid in accordance with the Program Participation Agreement signed with the U.S. Department of Education (valid through September 30, 2009). [1] The Office of Student Financial Aid provides a broad range of services to the approximately 65% of the student population who receive some form of financial aid.  Internal and state audits have shown no findings under the administration of Title IV aid for the past six years. [2] The institution has submitted all reports required by the U.S. Department of Education, including the annual Fiscal Operations and Application to Participate Reports, [3] in a correct and timely manner. [4]

The University of Memphis adheres to all federal regulations as set forth under Title IV student financial aid program regulations. Financial aid procedures are in compliance with Title IV regulations. Student eligibility is verified according to federal regulations; verification rules are reviewed each year and the financial aid system is modified to comply with new rules and regulations. The UofM also has established procedures for cost-of-attendance calculations, awarding financial aid, determining satisfactory progress, return of Title IV refund calculations, and other procedures to comply with federal, state, and institutional financial aid awarding. [5]

The UofM Office of Student Financial Aid has automated the financial aid processes as much as possible to maintain compliance with federal regulations and to provide the most accurate, consistent, and timely information to users.

Relevant Organizational Unit(s):

Assistant Vice Provost for Enrollment Services; Director of Financial Aid

Supporting Documentation and Evidence:

[1] Program Participation Agreement

[2] UofM audit reports for fiscal years ending:

June 30, 2003

June 30, 2002

June 30, 2001

June 30, 2000

June 30, 1999

June 30, 1998

[3] Fiscal Operations Report and Application to Participate (FISAP) report on award periods ending:

June 30, 2003

June 30, 2002

June 30, 2001

[4] Eligibility and Certification Approval Report

[5] UofM Financial Aid Procedures