The institution is in compliance with its program responsibilities under Title IV of the 1998 Higher Education Amendments. (In reviewing the institution’s compliance with these program responsibilities, the Commission relies on documentation forwarded to it by the Secretary of Education.)
Cape Fear Community College (CFCC) is in compliance with this federal requirement and fulfills its responsibilities under Title IV of the 1998 Higher Education Amendments. It has met the eligibility requirements and has approval to participate in the federal student financial aid programs until June 30, 2008. The North Carolina Office of the State Auditor (OSA) selects a sample of college and universities to test for compliance each year under the 1996 Single Audit Act. The OSA selected CFCC for fiscal year 2004 and found the College in compliance with the federal guidelines.
Cape Fear Community College receives federal funds from the U. S. Department of Education, Title IV. The College has met the eligibility requirements under the Higher Education Act. The College’s application for Approval to Participate in Federal Student Financial Aid Programs was approved on September 10, 2003 and will continue to be valid through June 30, 2008 (Application for Approval pg 8) (Program Participation Agreement).
Funds are provided for financial aid programs, such as Federal Pell, Federal Supplemental Opportunity Grant (FSEOG), Federal Work Study, and Federal Family Educational Loan Programs. The loan programs include Federal Subsidized Stafford Loans, Federal Unsubsidized Stafford Loans, and Federal Parent Loans for Undergraduate Students (PLUS).
The Office of the State Auditor selects a sample of colleges and universities to test for compliance each year under the 1996 Single Audit Act. They examine evidence on a test basis concerning the College’s compliance with the compliance requirements described in the U.S. Office of Budget and Management (OMB) Circular 1-133 Compliance Supplement applicable to the State of North Carolina’s major federal programs. The last audit for Title IV was for fiscal year ended June 30, 2004 found the College in compliance with no findings (Management Letter for Fiscal Year 2004).