Audit 371726

Untimely Returns of Title IV Funds (R2T4) Significant Deficiency DEPARTMENT OF EDUCATION ALN #: 84.268 Federal Direct Student Loans, 84.063 Pell Grants Federal Award Identification #: 2024-2025 Financial Aid Year Condition: When traditional undergraduate students withdrew unofficially, the University did not always return unearned Title IV aid timely. Criteria: 34 CFR 668.22 Questioned Costs: $0 Context: Out of 10 students tested in the audit, 1 traditional undergraduate student who withdrew during the audit period tested had funds returned late. The University then performed a full file review of all 0 credit students during the 2024-2025 Financial Aid Year during the audit and determined that 4 total students had funds returned late ($27,244 FDL, $2,581 Pell), which ranged from 4 to 17 days late. All 4 students were traditional undergraduate students. Cause: Untimely communication from the registrar’s office to the financial aid office of traditional undergraduate students’ lack of attendance. Effect: Return of Title IV funds were not performed timely. Identification as repeat finding, if applicable: Not applicable. Recommendation: We recommend that a system is established between the registrar’s and financial aid offices in order to communicate traditional undergraduate students’ attendance in a timely manner. Views of Responsible Officials and Planned Corrective Action: Management agrees with the finding. See corrective action plan.