Does the institution plan on applying for eligibility to participate in Federal Aid Programs (Title IV)?
If “YES” is checked on the application, you are required to comply with NACCAS’ Standard X, which states: Institutions that seek accreditation …and wish to participate in federal student financial assistance programs … shall comply with the foregoing goals of accreditation, standards, and criteria with HEA requirements. Under Standard X the school needs to submit audited financial statements for the past fiscal year, prepared by an independent certified public accountant. The financialstatements prepared on the accrual basis should be audited in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in “Government Auditing Standards”, issued by the Comptroller General of the United States. If “No” is checked on the application, the school must submit compiled financial statements prepared on the accrual basis and in accordance with generally accepted accounting principles. The school must show tha
Related Questions
- What must a Federal Student Aid applicant do in order to regain Title IV eligibility if he or she defaulted on a FFEL Program loan that was subsequently written off partially or in full?
- Which federal aid programs does ANTS participate in and what are the eligibility requirements for federal financial aid?
- Does the institution plan on applying for eligibility to participate in Federal Aid Programs (Title IV)?
