Title IV eligible schools must have a current program participation agreement (PPA), signed by their president, chief executive officer, or chancellor and an authorized representative of the Secretary of Education. With the PPA the school agrees to comply with the laws, regulations, and policies governing Federal Student Aid (FSA) programs. After being certified for FSA program participation, the school must administer FSA program funds in a prudent and responsible manner in order to maintain eligibility.
PEPS maintains eligibility, certification, demographic, financial, review, audit and default rate data about schools, lenders, and guarantors participating in Title IV programs. PEPS produces a weekly data extract of select school data as well as other helpful reports.