Condition: The University did not return all Title IV funds in a timely manner due to a lack of communication and review.
Planned Corrective Action: Management has implemented the following corrective actions:
-Beginning with the spring 2024 semester, an internal peer review process was implemented ...
Condition: The University did not return all Title IV funds in a timely manner due to a lack of communication and review.
Planned Corrective Action: Management has implemented the following corrective actions:
-Beginning with the spring 2024 semester, an internal peer review process was implemented to verify that Title IV funds are returned within the required timeframe. This involves segregation of
duties between the completion of each of the following: 1) official and unofficial withdrawal review, 2) verification of this review, and 3) return of the Title IV funding.
-Beginning in February 2024, the process team leader within the Office of Student Aid is monitoring system reports on a periodic basis (weekly for official withdrawals, within 45 days of date of determination for unofficial withdrawals) to ensure procedures are being followed.
-Beginning in February 2024 for the fall 2023 semester, quality control reviews are being conducted by the Office of Student Aid’s Compliance and Training Team in which withdrawn students are sampled to monitor compliance. These reviews will be conducted at the end of each semester going forward.
-Management will update its Return to Title IV (“R2T4”) procedures to reflect these additional controls. Additionally, job aids related to R2T4 have been reviewed and updated where appropriate and ongoing training has been occurring with the R2T4 specialists.
Contact person responsible for corrective action: Melissa J. Kunes, Assistant Vice President for Enrollment Management and Executive Director for Student Aid
Anticipated Completion Date: 03/31/2024