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Title IV of the Higher Education Act of 1965 (HEA) covers the administration of the United States federal student financial aid programs. [1]American colleges and universities are generally classified with regard to their inclusion under Title IV, such as under the U.S. Department of Education statistics.
It increased federal money given to universities, created scholarships, gave low-interest loans for students, and established a National Teachers Corps. The "financial assistance for students" is covered in Title IV of the HEA. The Higher Education Act of 1965 was reauthorized in 1968, 1972, 1976, 1980, 1986, 1992, 1998, and 2008.
The terms of the loans are described in Title IV of the Higher Education Act of 1965 (with subsequent amendments), which guarantees repayment to the lender if a student defaults. As of July 1, 2010, Stafford Loans are no longer being offered, having been replaced with the William D. Ford Federal Direct Student Loan Program .
In 2012, the U.S. Department of Education released detailed federal student loan default rates including, for the first time, three-year default rates. For-profit institutions had the highest average three-year default rates at 22.7 percent, and public institutions rates were 11 percent and private non-profit institutions at 7.5 percent.
The Institute was certified by the United States Department of Education as an eligible institution to administer Title IV federal funds. The Institute was also authorized by the Department of Veteran Affairs to enroll eligible veterans and is authorized by the U.S. Department of Homeland Security to enroll non-immigrant alien students.
The United States Department of Education is a cabinet-level department of the United States government.It began operating on May 4, 1980, having been created after the Department of Health, Education, and Welfare was split into the Department of Education and the Department of Health and Human Services by the Department of Education Organization Act, which President Jimmy Carter signed into ...
The department claimed that the change was intended to encourage cooperation between accredited schools to improve student experiences, uphold quality standards, and reduce the cost of higher education by encouraging transparent transfer of credits and mutual recognition of degrees between schools with common standards.
The Higher Education Opportunity Act of 2008 authorized fee-based FAFSA preparation. [10] By law, fee-based FAFSA preparation services must on initial contact with students inform them of the free option and be transparent about their non-affiliation with the U.S. Department of Education and their fees.