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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.
In 1972, for-profit colleges became eligible to receive federal student financial aid under Title IV. There were then no restrictions on the percentage of revenue that could be received from these sources. [5] In the 1990s, lawmakers became concerned with the quality and recruiting practices of for-profit colleges.
The law, for the first time, also required post-secondary institutions to be more transparent about costs and required the nearly 7,000 post-secondary institutions that receive federal financial aid funds (Title IV) to post net price calculators on their websites as well as security and copyright policies by October 29, 2011.
The Free Application for Federal Student Aid (FAFSA) must be submitted for each year of enrollment. One form covers both semesters of the school year with payments issued every quarter or semester.
The Act allows the U.S. Secretary of Education to grant waivers or relief to recipients of student financial aid programs under Title IV of the Higher Education Act of 1965, in connection with a war or other military operation or national emergency. [1]
To make higher education costs more transparent before a student actually applies to college, federal law requires all post-secondary institutions receiving Title IV funds (federal funds for student aid) to post net price calculators on their websites by October 29, 2011.
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