Audit 392486

Federal Program - Student Financial Assistance Cluster, Federal Direct Student Loans Federal Agency - U.S. Department of Education Assistance Listing Number - 84.268 Federal Award Year - June 30, 2025 Criteria: Title IV regulations (34 CFR Section 685.309(b)) require that upon receipt of an enrollment report from the Secretary, institutions must update all information included in the report and return the report to the Secretary: (i) in the manner and format prescribed by the Secretary; and (ii) within the timeframe prescribed by the Secretary. Unless it expects to submit its next updated enrollment report to the Secretary within the next 60 days, an institution must notify the Secretary within 30 days after the date the institution discovers that: (i) a loan under Title IV of the Act was made to or on behalf of a student who was enrolled or accepted for enrollment at the institution, and the student has ceased to be enrolled on at least a half-time basis or failed to enroll on at least a half-time basis for the period for which the loan was intended; or (ii) a student who is enrolled at the institution and who received a loan under Title IV of the Act has changed his or her permanent address. Condition: The University did not notify the National Student Loan Data System (NSLDS) in a timely manner for one student with a status change in our sample of 25 students. The sample was not a statistically valid sample. Questioned Costs: There are no questioned costs associated with this finding. Cause: The University's procedures for reporting all students were not designed appropriately in order to allow for timely reporting to the NSLDS. Effect: The accuracy of Title IV student loan records depends heavily on the accuracy of the enrollment information reported by schools. If an institution does not review, update and verify student enrollment statuses, effective dates of the enrollment status and the anticipated completion dates, then the Title IV student loan records will be inaccurate. Recommendations: The University should review its procedures for student status changes and NSLDS notifications to ensure there are follow-up and review procedures being performed for all students with status changes at the University. Views of Responsible Officials: Management concurs with the finding and the University will periodically perform independent reviews of the information provided to the NSLDS to ensure the status change information has been updated in the NSLDS during the required time period.

Federal Program - Student Financial Assistance Cluster, Federal Direct Student Loans Federal Agency - U.S. Department of Education Assistance Listing Number - 84.268 Federal Award Year - June 30, 2025 Criteria: 34 CFR 668.165 requires that when Title IV funds are credited to a student account and they exceed the amount of tuition and fees, food and housing, and other authorized charges assessed the student, the institution must pay the resulting credit balance directly to the student or parent borrower within 14 days after the credit balance occurred. Condition: The federal aid disbursed resulting in a credit balance for one of the 25 students tested was not returned within 14 days of the date the credit balance occurred. The sample was not a statistically valid sample. Questioned Costs: There are no questioned costs associated with this finding. Cause: The University's procedures did not allow for timely payment of the funds to the student due to holidays that occurred. Effect: The University was in possession of funds belonging to the student for four days longer than allowed. Recommendation: The University should increase emphasis on timely processing of refund transactions. Views of Responsible Officials: Management acknowledges and concurs with the finding and returned the funds 18 days after the credit balance was created. The University plans to complete a comprehensive review of procedures to increase emphasis on timely payments of credit balances.

Federal Program - Student Financial Assistance Cluster, Federal Pell Grant Program Federal Agency - U.S. Department of Education Assistance Listing Number - 84.063 Federal Award Year - June 30, 2025 Criteria: 34 CFR 690 requires Pell grants to be calculated in accordance with the defined parameters. Condition: The Federal Pell Grant for one student out of 27 sampled was calculated incorrectly and the student received excess aid. The sample was not a statistically valid sample. Cause: The University's procedures for the processing of financial aid were in the process of being developed due to turnover in the financial aid department. Questioned Costs: There are no reportable questioned costs associated with this finding. Effect: The University awarded excess aid. Recommendation: The University should increase review and controls to ensure students are not awarded excess aid. Views of Responsible Officials: Management acknowledges and concurs with the finding. The University has a new team overseeing the financial aid process and plans to complete a comprehensive review of procedures and controls to ensure proper awarding in the future.