UWM maintains current copies of all documents required by the Higher Education Reauthorization Act including the following: Program Participation Agreement (PPA), Eligibility and Certification Renewal (ECAR), Fiscal Operations Reports and Applications to Participate (FISAP), and the Federal Nursing Student Loan Annual Operating Report.

In addition to the above mentioned documents, each year the Legislative Audit Bureau, a non-partisan legislative service agency, performs a state-wide audit (including UWM) to meet the requirements of the federal Single Audit Act of 1984, as amended, and the provisions of the Federal Office of Management and Budget Circular A-133. The link to their most recent report is at http://www.legis.state.wi.us/lab/reports/04-2full.pdf. There were no findings or exceptions specific to UWM in this, the most recent report. The section concerning the UW System starts on page 71.

Hard copies of all the above mentioned documents will be provided in the resource room.

Title IV programs at the University of Wisconsin Milwaukee have not been subject to a federal program review since the last accreditation.

The student” financial aid cluster” referred to in the report is defined by OMB Circular A-133 as including those programs of general student assistance in which UWM participates, such as those authorized by Title IV of the Higher Education Act of 1965. It does not include programs that provide fellowships or similar awards to students on a competitive basis.

The Associate Administrative Program Specialist in the Loan Unit of the Department of Financial Aid administers UWM’s default aversion program. The Specialist generates a “Late Stage Delinquency Assistance Report” monthly from the United States Department of Education’s Common Origination and Disbursement website, located at http://ifap.ed.gov/IFAPWebApp/currentCODPag.jsp. This monthly report is used to monitor students who are currently 241-360 days delinquent. Each student on the report is sent a “Late Stage Letter.”  The letter encourages the student to contact the Direct Loan Servicing Center and provides information on various resources for obtaining additional information. Subsequent action for direct loans that are more than 360 days delinquent is determined by the United States Department of Education.

Figure 44 shows the loan default rates.