Finding 2022-001: NSLDS Enrollment Reporting Federal agency: U.S. Department of Education Federal program title: Student Financial Assistance Cluster Assistance Listing Number: 84.063, 84.033, 84.268 Award Period: September 1, 2021 through August 31, 2022 Type of Finding: Significant Deficiency in Internal Control over Compliance Criteria or Specific Requirement: In accordance with 34 CFR 685.309(b) and the National Student Loan Data System (NSLDS) Enrollment Reporting Guide published by the Department of Education, schools must review, update, and verify student enrollment statuses, program information, and effective dates that appear on the Enrollment Reporting Roster file or on the Enrollment Maintenance page of the NSLDS Professional Access (NSLDSFAP) website. In addition, schools must report enrollment status changes within 30 days of becoming aware of the status change or in its next scheduled enrollment submission if the scheduled submission is within 60 days. Condition/Context: During our testing of 30 students, which is a statistically valid sample, we noted 13 instances where the student's enrollment status was not certified at least every 60 days, 26 instances where the published program length was improperly reported to the NSLDS system, 23 instances of late reporting of student status changes, three instances where the effective date of a student status change was improperly reported at the campus-level record, nine instances of improper student status reporting at the campus-level record, six instances of improper student status reporting at the programlevel record, and 18 instances where the program begin date was not properly reported to the NSLDS system. Questioned Costs: None. Cause: The University's internal controls did not identify the errors for compliance with the criteria mentioned above. Effect: Inaccurate information is reflected on the NSLDS database. A student?s enrollment data protects the rights of borrowers by ensuring that loan interest subsidies are based on accurate enrollment data, ensures loan repayment dates are accurately based on the last data of attendance, allows in-school deferments to be automatically granted using NSLDS enrollment data, and provides vast amounts of critical data about the effectiveness of Title IV aid programs, including completion data. Repeat Finding: Yes, see finding 2021-001. Recommendation: We recommend the University review its reporting procedures to ensure that enrollment and program information is accurately reported to NSLDS as required by regulations. Views of Responsible Officials: Please refer to the attached corrective action plan.
Federal agency: U.S. Department of Education Federal program title: Student Financial Assistance Cluster Assistance Listing Number: 84.063, 84.033, 84.268 Award Period: September 1, 2021 through August 31, 2022 Type of Finding: Significant Deficiency in Internal Control over Compliance Criteria or Specific Requirement: In accordance with the National Student Loan Data System (NSLDS) Enrollment Reporting Guide published by the Department of Education, schools are required to respond within 15 days of the date that NSLDS sends a Roster file to the school or its third-party servicer. Any errors identified and returned by NSLDS, in an Error/Acknowledgement file should be corrected and resubmitted within 10 days. Condition: During our testing of the NSLDS SCHER1 report, we noted one instance where the University failed to respond to an NSLDS roster within 15 days of receipt, and two instances where the University failed to correct and resubmit errors within 10 days. Questioned Costs: None. Context: Three exceptions were noted from the 12-month population. Cause: The University's internal controls did not identify the errors for compliance with the criteria mentioned above. Effect: Roster file submissions, and therefore student status changes, were not reported timely. Repeat Finding: Yes, see finding 2021-002. Recommendation: We recommend the University review its reporting procedures to ensure that roster file submissions are reported timely to NSLDS as required by regulations. Views of Responsible Officials: Please refer to the attached corrective action plan.
Federal agency: U.S. Department of Education Federal program title: Student Financial Assistance Cluster Assistance Listing Number: 84.063 and 84.268 Award Period: September 1, 2021 through August 31, 2022 Type of Finding: Significant Deficiency in Internal Control over Compliance Criteria or Specific Requirement: The Department of Education requires the University to report the disbursement dates and amounts to the Common Origination and Disbursement (COD) system within 15 days of disbursing Pell (34 CFR 690.83(b)(2) and Direct Loan (34 CFR 685.309) funds to a student. Condition: During our testing, we noted that one Pell and five Direct Loan disbursements, of the 40 disbursements tested, had incorrect disbursement dates reported to the Common Origination and Disbursement (COD) system. Questioned Costs: None. Context: The student ledger reflected the posted date rather disbursement date from the financial aid system. Cause: The University's internal controls did not identify the errors for compliance with the criteria mentioned above. Effect: Students interest accrues based on disbursement date reported to COD, thus interest calculation could be skewed due to the discrepancy in disbursement dates reported. Repeat Finding: No Recommendation: We recommend the University evaluate its procedures and policies around reporting disbursements to COD to ensure that student information is reported accurately and timely. Views of Responsible Officials: Please refer to the attached corrective action plan.
Finding 2022-001: NSLDS Enrollment Reporting Federal agency: U.S. Department of Education Federal program title: Student Financial Assistance Cluster Assistance Listing Number: 84.063, 84.033, 84.268 Award Period: September 1, 2021 through August 31, 2022 Type of Finding: Significant Deficiency in Internal Control over Compliance Criteria or Specific Requirement: In accordance with 34 CFR 685.309(b) and the National Student Loan Data System (NSLDS) Enrollment Reporting Guide published by the Department of Education, schools must review, update, and verify student enrollment statuses, program information, and effective dates that appear on the Enrollment Reporting Roster file or on the Enrollment Maintenance page of the NSLDS Professional Access (NSLDSFAP) website. In addition, schools must report enrollment status changes within 30 days of becoming aware of the status change or in its next scheduled enrollment submission if the scheduled submission is within 60 days. Condition/Context: During our testing of 30 students, which is a statistically valid sample, we noted 13 instances where the student's enrollment status was not certified at least every 60 days, 26 instances where the published program length was improperly reported to the NSLDS system, 23 instances of late reporting of student status changes, three instances where the effective date of a student status change was improperly reported at the campus-level record, nine instances of improper student status reporting at the campus-level record, six instances of improper student status reporting at the programlevel record, and 18 instances where the program begin date was not properly reported to the NSLDS system. Questioned Costs: None. Cause: The University's internal controls did not identify the errors for compliance with the criteria mentioned above. Effect: Inaccurate information is reflected on the NSLDS database. A student?s enrollment data protects the rights of borrowers by ensuring that loan interest subsidies are based on accurate enrollment data, ensures loan repayment dates are accurately based on the last data of attendance, allows in-school deferments to be automatically granted using NSLDS enrollment data, and provides vast amounts of critical data about the effectiveness of Title IV aid programs, including completion data. Repeat Finding: Yes, see finding 2021-001. Recommendation: We recommend the University review its reporting procedures to ensure that enrollment and program information is accurately reported to NSLDS as required by regulations. Views of Responsible Officials: Please refer to the attached corrective action plan.
Federal agency: U.S. Department of Education Federal program title: Student Financial Assistance Cluster Assistance Listing Number: 84.063, 84.033, 84.268 Award Period: September 1, 2021 through August 31, 2022 Type of Finding: Significant Deficiency in Internal Control over Compliance Criteria or Specific Requirement: In accordance with the National Student Loan Data System (NSLDS) Enrollment Reporting Guide published by the Department of Education, schools are required to respond within 15 days of the date that NSLDS sends a Roster file to the school or its third-party servicer. Any errors identified and returned by NSLDS, in an Error/Acknowledgement file should be corrected and resubmitted within 10 days. Condition: During our testing of the NSLDS SCHER1 report, we noted one instance where the University failed to respond to an NSLDS roster within 15 days of receipt, and two instances where the University failed to correct and resubmit errors within 10 days. Questioned Costs: None. Context: Three exceptions were noted from the 12-month population. Cause: The University's internal controls did not identify the errors for compliance with the criteria mentioned above. Effect: Roster file submissions, and therefore student status changes, were not reported timely. Repeat Finding: Yes, see finding 2021-002. Recommendation: We recommend the University review its reporting procedures to ensure that roster file submissions are reported timely to NSLDS as required by regulations. Views of Responsible Officials: Please refer to the attached corrective action plan.
Finding 2022-001: NSLDS Enrollment Reporting Federal agency: U.S. Department of Education Federal program title: Student Financial Assistance Cluster Assistance Listing Number: 84.063, 84.033, 84.268 Award Period: September 1, 2021 through August 31, 2022 Type of Finding: Significant Deficiency in Internal Control over Compliance Criteria or Specific Requirement: In accordance with 34 CFR 685.309(b) and the National Student Loan Data System (NSLDS) Enrollment Reporting Guide published by the Department of Education, schools must review, update, and verify student enrollment statuses, program information, and effective dates that appear on the Enrollment Reporting Roster file or on the Enrollment Maintenance page of the NSLDS Professional Access (NSLDSFAP) website. In addition, schools must report enrollment status changes within 30 days of becoming aware of the status change or in its next scheduled enrollment submission if the scheduled submission is within 60 days. Condition/Context: During our testing of 30 students, which is a statistically valid sample, we noted 13 instances where the student's enrollment status was not certified at least every 60 days, 26 instances where the published program length was improperly reported to the NSLDS system, 23 instances of late reporting of student status changes, three instances where the effective date of a student status change was improperly reported at the campus-level record, nine instances of improper student status reporting at the campus-level record, six instances of improper student status reporting at the programlevel record, and 18 instances where the program begin date was not properly reported to the NSLDS system. Questioned Costs: None. Cause: The University's internal controls did not identify the errors for compliance with the criteria mentioned above. Effect: Inaccurate information is reflected on the NSLDS database. A student?s enrollment data protects the rights of borrowers by ensuring that loan interest subsidies are based on accurate enrollment data, ensures loan repayment dates are accurately based on the last data of attendance, allows in-school deferments to be automatically granted using NSLDS enrollment data, and provides vast amounts of critical data about the effectiveness of Title IV aid programs, including completion data. Repeat Finding: Yes, see finding 2021-001. Recommendation: We recommend the University review its reporting procedures to ensure that enrollment and program information is accurately reported to NSLDS as required by regulations. Views of Responsible Officials: Please refer to the attached corrective action plan.
Federal agency: U.S. Department of Education Federal program title: Student Financial Assistance Cluster Assistance Listing Number: 84.063, 84.033, 84.268 Award Period: September 1, 2021 through August 31, 2022 Type of Finding: Significant Deficiency in Internal Control over Compliance Criteria or Specific Requirement: In accordance with the National Student Loan Data System (NSLDS) Enrollment Reporting Guide published by the Department of Education, schools are required to respond within 15 days of the date that NSLDS sends a Roster file to the school or its third-party servicer. Any errors identified and returned by NSLDS, in an Error/Acknowledgement file should be corrected and resubmitted within 10 days. Condition: During our testing of the NSLDS SCHER1 report, we noted one instance where the University failed to respond to an NSLDS roster within 15 days of receipt, and two instances where the University failed to correct and resubmit errors within 10 days. Questioned Costs: None. Context: Three exceptions were noted from the 12-month population. Cause: The University's internal controls did not identify the errors for compliance with the criteria mentioned above. Effect: Roster file submissions, and therefore student status changes, were not reported timely. Repeat Finding: Yes, see finding 2021-002. Recommendation: We recommend the University review its reporting procedures to ensure that roster file submissions are reported timely to NSLDS as required by regulations. Views of Responsible Officials: Please refer to the attached corrective action plan.
Federal agency: U.S. Department of Education Federal program title: Student Financial Assistance Cluster Assistance Listing Number: 84.268 ? Federal Direct Student Loans Award Period: September 1, 2021 through August 31, 2022 Type of Finding: Significant Deficiency in Internal Control over Compliance Criteria or Specific Requirement: The Code of Federal Regulations, 34 CFR 685.203 specifies the annual and aggregate loan limits the Institutions may not exceed for an academic year of study under the Direct Loan program. Condition: During our testing, we noted one out of the 40 students tested for eligibility were not properly awarded unsubsidized Stafford loans. Questioned Costs: None. Context: Student was awarded a combined subsidized and unsubsidized aggregate amount of $230,500, which is more than the aggregate limits per the student financial handbook of $224,000. Cause: The University's internal controls did not identify the errors for compliance with the criteria mentioned above. Effect: The University awarded $6,500 of unsubsidized Stafford loans for which the student is not eligible. Repeat Finding: No Recommendation: We recommend that the University review their awarding procedures and implement procedures to ensure the Stafford loans are awarded within the annual and aggregate limits. Views of Responsible Officials: Please refer to the attached corrective action plan.
Federal agency: U.S. Department of Education Federal program title: Student Financial Assistance Cluster Assistance Listing Number: 84.063 and 84.268 Award Period: September 1, 2021 through August 31, 2022 Type of Finding: Significant Deficiency in Internal Control over Compliance Criteria or Specific Requirement: The Department of Education requires the University to report the disbursement dates and amounts to the Common Origination and Disbursement (COD) system within 15 days of disbursing Pell (34 CFR 690.83(b)(2) and Direct Loan (34 CFR 685.309) funds to a student. Condition: During our testing, we noted that one Pell and five Direct Loan disbursements, of the 40 disbursements tested, had incorrect disbursement dates reported to the Common Origination and Disbursement (COD) system. Questioned Costs: None. Context: The student ledger reflected the posted date rather disbursement date from the financial aid system. Cause: The University's internal controls did not identify the errors for compliance with the criteria mentioned above. Effect: Students interest accrues based on disbursement date reported to COD, thus interest calculation could be skewed due to the discrepancy in disbursement dates reported. Repeat Finding: No Recommendation: We recommend the University evaluate its procedures and policies around reporting disbursements to COD to ensure that student information is reported accurately and timely. Views of Responsible Officials: Please refer to the attached corrective action plan.
Finding 2022-001: NSLDS Enrollment Reporting Federal agency: U.S. Department of Education Federal program title: Student Financial Assistance Cluster Assistance Listing Number: 84.063, 84.033, 84.268 Award Period: September 1, 2021 through August 31, 2022 Type of Finding: Significant Deficiency in Internal Control over Compliance Criteria or Specific Requirement: In accordance with 34 CFR 685.309(b) and the National Student Loan Data System (NSLDS) Enrollment Reporting Guide published by the Department of Education, schools must review, update, and verify student enrollment statuses, program information, and effective dates that appear on the Enrollment Reporting Roster file or on the Enrollment Maintenance page of the NSLDS Professional Access (NSLDSFAP) website. In addition, schools must report enrollment status changes within 30 days of becoming aware of the status change or in its next scheduled enrollment submission if the scheduled submission is within 60 days. Condition/Context: During our testing of 30 students, which is a statistically valid sample, we noted 13 instances where the student's enrollment status was not certified at least every 60 days, 26 instances where the published program length was improperly reported to the NSLDS system, 23 instances of late reporting of student status changes, three instances where the effective date of a student status change was improperly reported at the campus-level record, nine instances of improper student status reporting at the campus-level record, six instances of improper student status reporting at the programlevel record, and 18 instances where the program begin date was not properly reported to the NSLDS system. Questioned Costs: None. Cause: The University's internal controls did not identify the errors for compliance with the criteria mentioned above. Effect: Inaccurate information is reflected on the NSLDS database. A student?s enrollment data protects the rights of borrowers by ensuring that loan interest subsidies are based on accurate enrollment data, ensures loan repayment dates are accurately based on the last data of attendance, allows in-school deferments to be automatically granted using NSLDS enrollment data, and provides vast amounts of critical data about the effectiveness of Title IV aid programs, including completion data. Repeat Finding: Yes, see finding 2021-001. Recommendation: We recommend the University review its reporting procedures to ensure that enrollment and program information is accurately reported to NSLDS as required by regulations. Views of Responsible Officials: Please refer to the attached corrective action plan.
Federal agency: U.S. Department of Education Federal program title: Student Financial Assistance Cluster Assistance Listing Number: 84.063, 84.033, 84.268 Award Period: September 1, 2021 through August 31, 2022 Type of Finding: Significant Deficiency in Internal Control over Compliance Criteria or Specific Requirement: In accordance with the National Student Loan Data System (NSLDS) Enrollment Reporting Guide published by the Department of Education, schools are required to respond within 15 days of the date that NSLDS sends a Roster file to the school or its third-party servicer. Any errors identified and returned by NSLDS, in an Error/Acknowledgement file should be corrected and resubmitted within 10 days. Condition: During our testing of the NSLDS SCHER1 report, we noted one instance where the University failed to respond to an NSLDS roster within 15 days of receipt, and two instances where the University failed to correct and resubmit errors within 10 days. Questioned Costs: None. Context: Three exceptions were noted from the 12-month population. Cause: The University's internal controls did not identify the errors for compliance with the criteria mentioned above. Effect: Roster file submissions, and therefore student status changes, were not reported timely. Repeat Finding: Yes, see finding 2021-002. Recommendation: We recommend the University review its reporting procedures to ensure that roster file submissions are reported timely to NSLDS as required by regulations. Views of Responsible Officials: Please refer to the attached corrective action plan.
Federal agency: U.S. Department of Education Federal program title: Student Financial Assistance Cluster Assistance Listing Number: 84.063 and 84.268 Award Period: September 1, 2021 through August 31, 2022 Type of Finding: Significant Deficiency in Internal Control over Compliance Criteria or Specific Requirement: The Department of Education requires the University to report the disbursement dates and amounts to the Common Origination and Disbursement (COD) system within 15 days of disbursing Pell (34 CFR 690.83(b)(2) and Direct Loan (34 CFR 685.309) funds to a student. Condition: During our testing, we noted that one Pell and five Direct Loan disbursements, of the 40 disbursements tested, had incorrect disbursement dates reported to the Common Origination and Disbursement (COD) system. Questioned Costs: None. Context: The student ledger reflected the posted date rather disbursement date from the financial aid system. Cause: The University's internal controls did not identify the errors for compliance with the criteria mentioned above. Effect: Students interest accrues based on disbursement date reported to COD, thus interest calculation could be skewed due to the discrepancy in disbursement dates reported. Repeat Finding: No Recommendation: We recommend the University evaluate its procedures and policies around reporting disbursements to COD to ensure that student information is reported accurately and timely. Views of Responsible Officials: Please refer to the attached corrective action plan.
Finding 2022-001: NSLDS Enrollment Reporting Federal agency: U.S. Department of Education Federal program title: Student Financial Assistance Cluster Assistance Listing Number: 84.063, 84.033, 84.268 Award Period: September 1, 2021 through August 31, 2022 Type of Finding: Significant Deficiency in Internal Control over Compliance Criteria or Specific Requirement: In accordance with 34 CFR 685.309(b) and the National Student Loan Data System (NSLDS) Enrollment Reporting Guide published by the Department of Education, schools must review, update, and verify student enrollment statuses, program information, and effective dates that appear on the Enrollment Reporting Roster file or on the Enrollment Maintenance page of the NSLDS Professional Access (NSLDSFAP) website. In addition, schools must report enrollment status changes within 30 days of becoming aware of the status change or in its next scheduled enrollment submission if the scheduled submission is within 60 days. Condition/Context: During our testing of 30 students, which is a statistically valid sample, we noted 13 instances where the student's enrollment status was not certified at least every 60 days, 26 instances where the published program length was improperly reported to the NSLDS system, 23 instances of late reporting of student status changes, three instances where the effective date of a student status change was improperly reported at the campus-level record, nine instances of improper student status reporting at the campus-level record, six instances of improper student status reporting at the programlevel record, and 18 instances where the program begin date was not properly reported to the NSLDS system. Questioned Costs: None. Cause: The University's internal controls did not identify the errors for compliance with the criteria mentioned above. Effect: Inaccurate information is reflected on the NSLDS database. A student?s enrollment data protects the rights of borrowers by ensuring that loan interest subsidies are based on accurate enrollment data, ensures loan repayment dates are accurately based on the last data of attendance, allows in-school deferments to be automatically granted using NSLDS enrollment data, and provides vast amounts of critical data about the effectiveness of Title IV aid programs, including completion data. Repeat Finding: Yes, see finding 2021-001. Recommendation: We recommend the University review its reporting procedures to ensure that enrollment and program information is accurately reported to NSLDS as required by regulations. Views of Responsible Officials: Please refer to the attached corrective action plan.
Federal agency: U.S. Department of Education Federal program title: Student Financial Assistance Cluster Assistance Listing Number: 84.063, 84.033, 84.268 Award Period: September 1, 2021 through August 31, 2022 Type of Finding: Significant Deficiency in Internal Control over Compliance Criteria or Specific Requirement: In accordance with the National Student Loan Data System (NSLDS) Enrollment Reporting Guide published by the Department of Education, schools are required to respond within 15 days of the date that NSLDS sends a Roster file to the school or its third-party servicer. Any errors identified and returned by NSLDS, in an Error/Acknowledgement file should be corrected and resubmitted within 10 days. Condition: During our testing of the NSLDS SCHER1 report, we noted one instance where the University failed to respond to an NSLDS roster within 15 days of receipt, and two instances where the University failed to correct and resubmit errors within 10 days. Questioned Costs: None. Context: Three exceptions were noted from the 12-month population. Cause: The University's internal controls did not identify the errors for compliance with the criteria mentioned above. Effect: Roster file submissions, and therefore student status changes, were not reported timely. Repeat Finding: Yes, see finding 2021-002. Recommendation: We recommend the University review its reporting procedures to ensure that roster file submissions are reported timely to NSLDS as required by regulations. Views of Responsible Officials: Please refer to the attached corrective action plan.
Finding 2022-001: NSLDS Enrollment Reporting Federal agency: U.S. Department of Education Federal program title: Student Financial Assistance Cluster Assistance Listing Number: 84.063, 84.033, 84.268 Award Period: September 1, 2021 through August 31, 2022 Type of Finding: Significant Deficiency in Internal Control over Compliance Criteria or Specific Requirement: In accordance with 34 CFR 685.309(b) and the National Student Loan Data System (NSLDS) Enrollment Reporting Guide published by the Department of Education, schools must review, update, and verify student enrollment statuses, program information, and effective dates that appear on the Enrollment Reporting Roster file or on the Enrollment Maintenance page of the NSLDS Professional Access (NSLDSFAP) website. In addition, schools must report enrollment status changes within 30 days of becoming aware of the status change or in its next scheduled enrollment submission if the scheduled submission is within 60 days. Condition/Context: During our testing of 30 students, which is a statistically valid sample, we noted 13 instances where the student's enrollment status was not certified at least every 60 days, 26 instances where the published program length was improperly reported to the NSLDS system, 23 instances of late reporting of student status changes, three instances where the effective date of a student status change was improperly reported at the campus-level record, nine instances of improper student status reporting at the campus-level record, six instances of improper student status reporting at the programlevel record, and 18 instances where the program begin date was not properly reported to the NSLDS system. Questioned Costs: None. Cause: The University's internal controls did not identify the errors for compliance with the criteria mentioned above. Effect: Inaccurate information is reflected on the NSLDS database. A student?s enrollment data protects the rights of borrowers by ensuring that loan interest subsidies are based on accurate enrollment data, ensures loan repayment dates are accurately based on the last data of attendance, allows in-school deferments to be automatically granted using NSLDS enrollment data, and provides vast amounts of critical data about the effectiveness of Title IV aid programs, including completion data. Repeat Finding: Yes, see finding 2021-001. Recommendation: We recommend the University review its reporting procedures to ensure that enrollment and program information is accurately reported to NSLDS as required by regulations. Views of Responsible Officials: Please refer to the attached corrective action plan.
Federal agency: U.S. Department of Education Federal program title: Student Financial Assistance Cluster Assistance Listing Number: 84.063, 84.033, 84.268 Award Period: September 1, 2021 through August 31, 2022 Type of Finding: Significant Deficiency in Internal Control over Compliance Criteria or Specific Requirement: In accordance with the National Student Loan Data System (NSLDS) Enrollment Reporting Guide published by the Department of Education, schools are required to respond within 15 days of the date that NSLDS sends a Roster file to the school or its third-party servicer. Any errors identified and returned by NSLDS, in an Error/Acknowledgement file should be corrected and resubmitted within 10 days. Condition: During our testing of the NSLDS SCHER1 report, we noted one instance where the University failed to respond to an NSLDS roster within 15 days of receipt, and two instances where the University failed to correct and resubmit errors within 10 days. Questioned Costs: None. Context: Three exceptions were noted from the 12-month population. Cause: The University's internal controls did not identify the errors for compliance with the criteria mentioned above. Effect: Roster file submissions, and therefore student status changes, were not reported timely. Repeat Finding: Yes, see finding 2021-002. Recommendation: We recommend the University review its reporting procedures to ensure that roster file submissions are reported timely to NSLDS as required by regulations. Views of Responsible Officials: Please refer to the attached corrective action plan.
Federal agency: U.S. Department of Education Federal program title: Student Financial Assistance Cluster Assistance Listing Number: 84.268 ? Federal Direct Student Loans Award Period: September 1, 2021 through August 31, 2022 Type of Finding: Significant Deficiency in Internal Control over Compliance Criteria or Specific Requirement: The Code of Federal Regulations, 34 CFR 685.203 specifies the annual and aggregate loan limits the Institutions may not exceed for an academic year of study under the Direct Loan program. Condition: During our testing, we noted one out of the 40 students tested for eligibility were not properly awarded unsubsidized Stafford loans. Questioned Costs: None. Context: Student was awarded a combined subsidized and unsubsidized aggregate amount of $230,500, which is more than the aggregate limits per the student financial handbook of $224,000. Cause: The University's internal controls did not identify the errors for compliance with the criteria mentioned above. Effect: The University awarded $6,500 of unsubsidized Stafford loans for which the student is not eligible. Repeat Finding: No Recommendation: We recommend that the University review their awarding procedures and implement procedures to ensure the Stafford loans are awarded within the annual and aggregate limits. Views of Responsible Officials: Please refer to the attached corrective action plan.
Federal agency: U.S. Department of Education Federal program title: Student Financial Assistance Cluster Assistance Listing Number: 84.063 and 84.268 Award Period: September 1, 2021 through August 31, 2022 Type of Finding: Significant Deficiency in Internal Control over Compliance Criteria or Specific Requirement: The Department of Education requires the University to report the disbursement dates and amounts to the Common Origination and Disbursement (COD) system within 15 days of disbursing Pell (34 CFR 690.83(b)(2) and Direct Loan (34 CFR 685.309) funds to a student. Condition: During our testing, we noted that one Pell and five Direct Loan disbursements, of the 40 disbursements tested, had incorrect disbursement dates reported to the Common Origination and Disbursement (COD) system. Questioned Costs: None. Context: The student ledger reflected the posted date rather disbursement date from the financial aid system. Cause: The University's internal controls did not identify the errors for compliance with the criteria mentioned above. Effect: Students interest accrues based on disbursement date reported to COD, thus interest calculation could be skewed due to the discrepancy in disbursement dates reported. Repeat Finding: No Recommendation: We recommend the University evaluate its procedures and policies around reporting disbursements to COD to ensure that student information is reported accurately and timely. Views of Responsible Officials: Please refer to the attached corrective action plan.