WCU Receives Perfect Score for College Financial Responsibility
Hattiesburg, Miss., July 26, 2013 - The U. S. Department of Education has just released its College Financial Responsibility Composite Scores for private non-profit and proprietary schools, and William Carey University received a perfect score of 3. The composite score reflects the overall relative financial health of institutions along a scale from negative 1.0 to positive 3.0. An institution must demonstrate its financial responsibility by submitting an audited financial statement and the school’s compliance audit to the Department of Education yearly in order to participate in the Federal Student Aid programs. Receiving a score lower than 1.5 could place an institution’s financial aid in jeopardy if the institution does not correct the financial issues.
“We are pleased that the U. S. Office of Education recognizes that William Carey University is handling its overall financial matters, including federal financial aid, in a responsible manner. The score of 3 reflects the financial strength and stability of WCU,” said Dr. Tommy King, president.