U.S. Department of Education gives Saint Augustine’s University its Highest Score on its Financial Responsibility Test

Posted by on in Uncategorized
  • Font size: Larger Smaller
  • Hits: 743
  • Subscribe to this entry
  • Print

Saint Augustine’s University received a 3.0, the highest score possible on the U.S. Department of Education’s Financial Responsibility Test.  The Department of Education recently released the report of grades of nearly 2,000 private universities in the nation on a formula that looks at debts and assets, among other factors, and assigns each institution a grade.

Saint Augustine’s University was one of the only two private historically black colleges or universities in North Carolina to score a 3.0. The score covers each institution’s fiscal year from July 1, 2013, to June 30, 2014.

The U.S. Department of Education requires all private colleges that award federal student aid to participate in an annual test based on information from their audited financial statements. The U.S. Department of Education develops a composite score on a scale of negative 1.0 to positive 3.0, based on financial ratios that measure factors such as net worth, operating losses and the relationship of assets to liabilities.

Campus Events

Sunday, May 8: Baccalaureate Program; 6 p.m.; Saint Augustine's Chapel

Friday, May 13: Stone of Hope Gala; 7 p.m.; Sheraton Imperial Hotel and Convention Center, 4700 Emperor Blvd., Durham, NC; $100 per person

Saturday, May 14: Commencement; 9 a.m.; University Quadrangle