The U.S. Department of Education is recognizing Martin University with its highest rating for the school's Title IV program. The university says the designation allows it to take part in the Federal Student Aid program without internal oversight.
December 3, 2014
Indianapolis, Ind. — Martin University has been awarded the highest rating by the U.S. Department of Education for the handling of the Title IV program (Federal Student Aid). This rating allows the University to participate in the Federal Student Aid program without any internal oversight.
Since 2009, Martin University's financial aid processing system operated under the Department's Heightened Cash Monitory program (HCM1 and HCM2) restrictions. Through the coordinated efforts of Martin and the Department of Education, the University has worked to demonstrate its ability to maintain, disburse and manage Title IV funds. Those restrictions have now been lifted, and Martin is today classified as an “Advance Pay” institution, meaning that Title IV funds can be received more quickly, once requested.
“This new status is an important recognition of Martin’s fiscal integrity and ability to meet the financial needs of our students,” said Martin President Eugene G. White. “We have worked extremely hard to achieve the high financial standards required by the Department of Education and other accrediting bodies. This announcement verifies that we are making substantial progress.”
Martin University is a private, not-for-profit, liberal arts institution founded in 1977 by Rev. Father Boniface Hardin and Sister Jane Schilling. Martin is Indiana’s only Predominately Black Institution (PBI) of higher education. It is steeped in a history of service and open to a diverse population of students from all walks of life. Its mission is to provide excellence in educating and developing all students, with expertise in serving and empowering low-income, minority, and adult learner, in a healthy and collegiate environment.
Source: Martin University