Corrective Action Plans

Finding 551098 (2024-010)

Material Weakness 2024

NC

Student Financial Aid Eligibility Material Weakness

Student Financial Assistance Cluster - Assistance Listing No. No. 84.268 Recommendation: We recommend the University review its process around sending exit counseling information to students to ensure this information is received and the University is performing required procedures. Explanation of d...

Student Financial Assistance Cluster - Assistance Listing No. No. 84.268 Recommendation: We recommend the University review its process around sending exit counseling information to students to ensure this information is received and the University is performing required procedures. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: The Financial Aid Office has hired additional staff, enhanced training efforts, and established a standard procedure to send loan exit counseling notifications to students at the end of each term, ensuring regulatory compliance. Name(s) of the contact person(s) responsible for corrective action: Damon Wade, VP for Enrollment Management and Marketing Planned completion date for corrective action plan: June 2025

View Audit 352022

Finding 551097 (2024-009)

Significant Deficiency 2024

William Peace Universirty

NC

Student Financial Aid Significant Deficiency Internal Control / Segregation of Duties

Student Financial Assistance Cluster - Assistance Listing No. No. 84.063 Recommendation: We recommend the University implement a review process to ensure calculations of Pell awards are using the correct information. Explanation of disagreement with audit finding: There is no disagreement with the a...

Student Financial Assistance Cluster - Assistance Listing No. No. 84.063 Recommendation: We recommend the University implement a review process to ensure calculations of Pell awards are using the correct information. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: To reduce calculation errors in Pell Grant awards, the Financial Aid Office has hired additional staff, increased training, and implemented an automated packaging system. This system ensures Pell award amounts are calculated using accurate and verified student information. Name(s) of the contact person(s) responsible for corrective action: Damon Wade, VP for Enrollment Management and Marketing Planned completion date for corrective action plan: August 2025

View Audit 352022

Finding 551094 (2024-008)

Significant Deficiency 2024

William Peace Universirty

NC

Subrecipient Monitoring Student Financial Aid Significant Deficiency

Student Financial Assistance Cluster - Assistance Listing No. No. 84.063, 84.268, 84.007, 84.033 Recommendation: We recommend the University ensure its written information security program addresses the required minimum elements as outlined in 16 CFR 314.4. Explanation of disagreement with audit fin...

Student Financial Assistance Cluster - Assistance Listing No. No. 84.063, 84.268, 84.007, 84.033 Recommendation: We recommend the University ensure its written information security program addresses the required minimum elements as outlined in 16 CFR 314.4. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: The Information Technology Department will ensure its written information security program addresses the required minimum elements outlined in 16 CFR 314.4. Name(s) of the contact person(s) responsible for corrective action: Belinda Burke, VP for Finance and Administration, CFO Planned completion date for corrective action plan: April 2025

View Audit 352022

Finding 551093 (2024-007)

Significant Deficiency 2024

William Peace Universirty

NC

Questioned Costs Student Financial Aid Significant Deficiency

Student Financial Assistance Cluster - Assistance Listing No. 84.268 Recommendation: We recommend the University establish additional policies to ensure all students meet the financial need criteria before awarding Title IV funds. Explanation of disagreement with audit finding: There is no disagree...

Student Financial Assistance Cluster - Assistance Listing No. 84.268 Recommendation: We recommend the University establish additional policies to ensure all students meet the financial need criteria before awarding Title IV funds. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: The Financial Aid Office has hired additional personnel to enhance oversight and processing capacity. Staff will continue to receive training and will review all late and supplemental awards to verify that students meet financial need criteria before Title IV funds are disbursed. Name(s) of the contact person(s) responsible for corrective action: Damon Wade, VP for Enrollment Management and Marketing Planned completion date for corrective action plan: June 2025

View Audit 352022 Questioned Costs: $1

Finding 551091 (2024-006)

Significant Deficiency 2024

William Peace Universirty

NC

Reporting Student Financial Aid Significant Deficiency

Student Financial Assistance Cluster - Assistance Listing No. 84.063, 84.268 Recommendation: We recommend the University evaluate its procedures and review regulations to ensure the University understands the definitions for enrollment information required to be reported to the NSLDS. Explanation of...

Student Financial Assistance Cluster - Assistance Listing No. 84.063, 84.268 Recommendation: We recommend the University evaluate its procedures and review regulations to ensure the University understands the definitions for enrollment information required to be reported to the NSLDS. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: Given the findings related to enrollment reporting, the University will review policies and procedures to ensure information is reported in a timely and accurate manner. The University will review the NSLDS regulations and ensure understanding and compliance of the NSLDS definitions related to required reporting of enrollment changes. The University will verify program lengths for all active programs reported to NSLDS. The Registrar is the responsible party for enrollment reporting via NSC to NSLDS. Name(s) of the contact person(s) responsible for corrective action: Lynda Szymanski, VP for Academic Affairs Planned completion date for corrective action plan: April 2025

View Audit 352022

Finding 551087 (2024-005)

Significant Deficiency 2024

William Peace Universirty

NC

Student Financial Aid Significant Deficiency Matching / Level of Effort / Earmarking

Student Financial Assistance Cluster - Assistance Listing No. 84.063, 84.268, 84.007, 84.033 Recommendation: We recommend the University review the R2T4 requirements and ensure their process incorporates a review of students to ensure no calculations are missed that should be performed. Explanation ...

Student Financial Assistance Cluster - Assistance Listing No. 84.063, 84.268, 84.007, 84.033 Recommendation: We recommend the University review the R2T4 requirements and ensure their process incorporates a review of students to ensure no calculations are missed that should be performed. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: At the conclusion of each academic term, the Director of Financial Aid will review enrollment data with the Registrar’s Office to identify students who may require Return of Title IV (R2T4) calculations. Completion of all required R2T4 calculations will be documented and verified by the Director to ensure full compliance with federal guidelines. Name(s) of the contact person(s) responsible for corrective action: Damon Wade, VP for Enrollment Management and Marketing Planned completion date for corrective action plan: May 2025

View Audit 352022

Finding 548686 (2024-005)

Significant Deficiency 2024

Wilberforce University

OH

Student Financial Aid Matching / Level of Effort / Earmarking Eligibility

Management agrees with the auditors and has initiated the necessary corrective action plan to mitigate the deficiency from occuring again. The plan is to implement new procedures to ensure the reporting to the NSLDS is done on a timely basis.

View Audit 352009

Finding 548676 (2024-004)

Significant Deficiency 2024

Stevenson University, Inc.

MD

Internal Control / Segregation of Duties Student Financial Aid Matching / Level of Effort / Earmarking

Name of Responsible Individual: Brandon Rhone, Analyst, Financial Aid Systems, and Chad Wick, Director Financial Aid Corrective Action: The Vice President of Enrollment created a process, implemented in the Spring of 2023, that automated the student loan disbursement notifications with-in the requi...

Name of Responsible Individual: Brandon Rhone, Analyst, Financial Aid Systems, and Chad Wick, Director Financial Aid Corrective Action: The Vice President of Enrollment created a process, implemented in the Spring of 2023, that automated the student loan disbursement notifications with-in the required 30 days of student accounts transmitting their loans, but some of them were already disbursed before this new process. To further enhance this process the FA Analyst created a process in Colleague to automate this process as well as allow for us to keep better records of the notifications. This new process was implemented in 2024, and the University should see results on the 2024-2025 Audit. Anticipated Completion Date: March 31, 2025

View Audit 351998

Finding 548673 (2024-005)

Significant Deficiency 2024

Stevenson University, Inc.

MD

Student Financial Aid Reporting Matching / Level of Effort / Earmarking

Name of Responsible Individual: Montague Blount, Registrar Corrective Action: The University Registrar has worked to develop and implement a plan to ensure appropriate cross-training, position backup, and a system of proper checks and balances to improve quality control and continuity in executing ...

Name of Responsible Individual: Montague Blount, Registrar Corrective Action: The University Registrar has worked to develop and implement a plan to ensure appropriate cross-training, position backup, and a system of proper checks and balances to improve quality control and continuity in executing core functions within the Registrar's Office. To enhance our efforts on this front, the University Registrar will implement additional training measures and reporting SOPs to ensure all status changes and error records are submitted to the NSC/NSLDS website within the required timeframe. These efforts will strengthen accuracy and overall compliance with reporting requirements. Enrollment reporting remains a critical focus of this initiative. Anticipated Completion Date: June 30, 2025

View Audit 351998

Finding 548670 (2024-003)

Significant Deficiency 2024

Stevenson University, Inc.

MD

Internal Control / Segregation of Duties Student Financial Aid Reporting

Name of Responsible Individual: Mary Beth Schiller-Schwenke, Chief Financial Officer and Joyce Sawyer, Director of Payroll Services Corrective Action: The instance of non-compliance occurred during a period of software change for timecard recordkeeping. The former software allowed the supervisor to...

Name of Responsible Individual: Mary Beth Schiller-Schwenke, Chief Financial Officer and Joyce Sawyer, Director of Payroll Services Corrective Action: The instance of non-compliance occurred during a period of software change for timecard recordkeeping. The former software allowed the supervisor to electronically approve a student timecard after payroll was processed. The new software does not allow this and the process now requires manual follow-up and signature. The Payroll Office in combination with Human Resources will enhance training for supervisors and require additional training for those supervisors that fail to approve timecards timely. Reporting has been improved to identify timecards that have not been approved. A procedure change has been implemented to remove wages from FWS if the hours in question remain unapproved after 30 days. Anticipated Completion Date: March 31, 2025

View Audit 351998

Finding 548668 (2024-001)

Significant Deficiency 2024

Stevenson University, Inc.

MD

Cash Management Student Financial Aid Internal Control / Segregation of Duties

Name of Responsible Individual: Mary Beth Schiller-Schwenke, Chief Financial Officer Corrective Action: The FWS Program instances were the result of retroactive award adjustments that posted subsequent to the federal draws and federal draw reconciliations. To prevent a similar error in the future, ...

Name of Responsible Individual: Mary Beth Schiller-Schwenke, Chief Financial Officer Corrective Action: The FWS Program instances were the result of retroactive award adjustments that posted subsequent to the federal draws and federal draw reconciliations. To prevent a similar error in the future, the Business Office has modified its draw recordkeeping process to require that the employees that perform the draw requests and the reconciliations review the FWS master worksheet for any pending adjustments. The Federal Pell Grant Program instances resulted from reversals of student awards. The Business Office routinely monitors the general ledger for award transactions, however, reversals of student aid awarded late in the academic term can be missed. The Financial Aid Office will be responsible to notify the Business Office when they initiate award reversals that necessitate a refund. In addition to ongoing monitoring of the related general ledger accounts, the Business Office will also create automated reporting to notify staff of the pending account balances. Anticipated Completion Date: March 31, 2025

View Audit 351998

Finding 548667 (2024-007)

None 2024

Stevenson University, Inc.

MD

Student Financial Aid Eligibility Internal Control / Segregation of Duties

Name of Responsible Individual: Brandon Rhone, Analyst, Financial Aid Systems, and Chad Wick, Director Financial Aid Corrective Action: During the 2024 fiscal year, the Financial Aid office experienced several staffing changes, including hiring of a new Director of Financial Aid. The University tr...

Name of Responsible Individual: Brandon Rhone, Analyst, Financial Aid Systems, and Chad Wick, Director Financial Aid Corrective Action: During the 2024 fiscal year, the Financial Aid office experienced several staffing changes, including hiring of a new Director of Financial Aid. The University transitioned from a manual awarding process to an automated process after last year’s audit but not in time to change some of the 23-24 awards. In the past FSEOG funds were used to assist students to pay off balances allowing them to register for the next semester. This practice in no longer being followed beginning with the 24-25 academic year. In addition, the Financial Aid office will review all 2024-2025 FSEOG awards to ensure that FSEOG is only awarded to Pell recipients. Anticipated Completion Date: March 31, 2025

View Audit 351998

Finding 548666 (2024-006)

Significant Deficiency 2024

Stevenson University, Inc.

MD

Student Financial Aid Reporting Matching / Level of Effort / Earmarking

Name of Responsible Individual: Chad Wick, Director Financial Aid Corrective Action: During the 2024 fiscal year, the Financial Aid office experienced several staffing changes, including hiring a new Director of Financial Aid. The newly hired staff did not receive the proper training to perform th...

Name of Responsible Individual: Chad Wick, Director Financial Aid Corrective Action: During the 2024 fiscal year, the Financial Aid office experienced several staffing changes, including hiring a new Director of Financial Aid. The newly hired staff did not receive the proper training to perform their roles effectively. This led to errors identifying and calculating the unearned amount of Title IV assistance to be returned. The previous Financial Aid Director was terminated before the prior corrective action plan could be fully completed. New leadership, in collaboration with the Office of Information Technology, developed an automated weekly report confirming student withdrawal dates for the 24-25 academic year. The report is emailed to Financial Aid director every Friday. The Financial Aid Director reviews the report and identifies Title IV recipients. The return of Title IV funds calculation is performed for those students. Any funds required to be disbursed or returned are then processed. Anticipated Completion Date: March 31, 2025

View Audit 351998

Finding 548665 (2024-002)

Significant Deficiency 2024

Stevenson University, Inc.

MD

Student Financial Aid Internal Control / Segregation of Duties Matching / Level of Effort / Earmarking

Name of Responsible Individual: Brian Emery, Associate Director Financial Aid and Chad Wick, Director Financial Aid Corrective Action: During the 2024 fiscal year, the Financial Aid office experienced several staffing changes, including hiring a new Director Financial of Aid. They also contracted w...

Name of Responsible Individual: Brian Emery, Associate Director Financial Aid and Chad Wick, Director Financial Aid Corrective Action: During the 2024 fiscal year, the Financial Aid office experienced several staffing changes, including hiring a new Director Financial of Aid. They also contracted with a third-party servicer that assisted with the verification process. The newly hired staff did not receive the proper training to perform their roles effectively. These two changes led to errors in verifying certain data when performing verification. The Financial Aid office implemented a Quality Assurance two-step verification process, but this took place after some of the 23-24 awards were processed. The Financial Aid office will run a report to identify all students selected for verification for 2024-2025 and review them for accuracy. If any corrections are needed, they will be updated, and awards will be adjusted as needed. Anticipated Completion Date: March 31, 2025

View Audit 351998

Finding 548648 (2024-002)

Significant Deficiency 2024

Queens University of Charlotte

NC

Student Financial Aid Matching / Level of Effort / Earmarking Internal Control / Segregation of Duties

Individual Responsible for Corrective Action: Everett Jeter, Director of Compliance Corrective Action: The error falls into the category of human oversight rather than fundamental misunderstanding of the regulation or timing of processes. A loan disbursement notification was sent to the students i...

Individual Responsible for Corrective Action: Everett Jeter, Director of Compliance Corrective Action: The error falls into the category of human oversight rather than fundamental misunderstanding of the regulation or timing of processes. A loan disbursement notification was sent to the students in question; however, we can only document the loan disbursement notification was sent but are unable to document the date or content of the communication. Students identified with missing communications are from spring 2024. Our internal processes dictate that the notification would normally be sent on the date of disbursement. We will develop and implement a loan disbursement notification to loan recipient reconciliation process to effectively capture students with missing communications to ensure that both a record of the notification and the date are maintained. Anticipated Completion Date: August 15, 2025

View Audit 351979

Finding 548645 (2024-001)

None 2024

Queens University of Charlotte

NC

Student Financial Aid Reporting Matching / Level of Effort / Earmarking

Individual Responsible for Corrective Action: Debbie Gannon, Registrar Corrective Action: Certain students’ campus-level enrollment data was not accurately reported. The Registrar’s Office will determine why certain students falling outside of normal graduate submission schedules are not being cap...

Individual Responsible for Corrective Action: Debbie Gannon, Registrar Corrective Action: Certain students’ campus-level enrollment data was not accurately reported. The Registrar’s Office will determine why certain students falling outside of normal graduate submission schedules are not being captured in DegreeVerify files submitted to the National Student Clearinghouse. Manual submissions for these non-standard graduates will be performed until a reporting solution is identified. Anticipated Completion Date: August 15, 2025

View Audit 351979

Finding 548644 (2024-003)

None 2024

Queens University of Charlotte

NC

Student Financial Aid Matching / Level of Effort / Earmarking Special Tests & Provisions

Individual Responsible for Corrective Action: Everett Jeter, Director of Compliance Corrective Action: The error falls into the category of human oversight rather than fundamental misunderstanding of the regulation or timing of processes. The University correctly determined the amount of Title IV ai...

Individual Responsible for Corrective Action: Everett Jeter, Director of Compliance Corrective Action: The error falls into the category of human oversight rather than fundamental misunderstanding of the regulation or timing of processes. The University correctly determined the amount of Title IV aid earned for a student within the required timeframes, but due to administrative oversight, omitted one of the required awards from the return update on the student account. A regular review of R2T4 calculations will be developed to ensure that the actual returns match the return calculations. Anticipated Completion Date: August 15, 2025

View Audit 351979

Finding 548640 (2024-008)

Significant Deficiency 2024

The Shaw University, Inc.

NC

Student Financial Aid Reporting Matching / Level of Effort / Earmarking

Name of Responsible Individual: Vice President of Enrollment Management (Dr. Stacey Sowell), Director of Financial Aid (Dr. Ojebe Ifegwu), University Registrar (Charee Ellison) Corrective Action: The University concurs with the finding and will review and revise its procedures for the frequency of ...

Name of Responsible Individual: Vice President of Enrollment Management (Dr. Stacey Sowell), Director of Financial Aid (Dr. Ojebe Ifegwu), University Registrar (Charee Ellison) Corrective Action: The University concurs with the finding and will review and revise its procedures for the frequency of NSLDS reporting to ensure timely reporting of enrollment changes. The University will implement a monthly enrollment audit to ensure that any change in enrollment status is identified in a timely manner and reported to NSLDS. Anticipated Completion Date: June 30, 2025

View Audit 351972

Finding 548637 (2024-007)

Significant Deficiency 2024

The Shaw University, Inc.

NC

Internal Control / Segregation of Duties Student Financial Aid Subrecipient Monitoring

Name of Responsible Individual: Vice President of Enrollment Management (Dr. Stacey Sowell), Director of Financial Aid (Dr. Ojebe Ifegwu), University Registrar (Charee Ellison) Corrective Action: The University concurs with the finding and will monitor internal controls to ensure that the return of...

Name of Responsible Individual: Vice President of Enrollment Management (Dr. Stacey Sowell), Director of Financial Aid (Dr. Ojebe Ifegwu), University Registrar (Charee Ellison) Corrective Action: The University concurs with the finding and will monitor internal controls to ensure that the return of Title IV funds is processed in accordance with federal regulations, specifically within the required 45-day timeframe after determining a student has withdrawn from the university. The university will establish a quarterly audit and monitoring system to review all Title IV fund returns, ensuring compliance with federal guidelines. Anticipated Completion Date: June 30, 2025

View Audit 351972

Finding 548633 (2024-006)

Significant Deficiency 2024

The Shaw University, Inc.

NC

Student Financial Aid Internal Control / Segregation of Duties Reporting

Name of Responsible Individual: Vice President of Enrollment Management (Dr. Stacey Sowell), Director of Financial Aid (Dr. Ojebe Ifegwu) Corrective Action: The University concurs with the finding. The University will make any necessary changes and corrections to ensure that the FISAP is submitted...

Name of Responsible Individual: Vice President of Enrollment Management (Dr. Stacey Sowell), Director of Financial Aid (Dr. Ojebe Ifegwu) Corrective Action: The University concurs with the finding. The University will make any necessary changes and corrections to ensure that the FISAP is submitted annually by October 1 following the end of the award year. This ensures that all data corrections are submitted on or before the deadline. The Financial aid Office will implement a process to enhance internal controls, policies and procedures, to ensure the FISAP is submitted accurately and timely. Anticipated Completion Date: October 1, 2025

View Audit 351972

Finding 548632 (2024-005)

Significant Deficiency 2024

The Shaw University, Inc.

NC

Internal Control / Segregation of Duties Student Financial Aid Eligibility

Name of Responsible Individual: Vice President of Enrollment Management (Dr. Stacey Sowell), Director of Financial Aid (Dr. Ojebe Ifegwu) Corrective Action: The University concurs with the finding. In selecting among eligible students for FSEOG in each award year, the office of Financial Aid will ...

Name of Responsible Individual: Vice President of Enrollment Management (Dr. Stacey Sowell), Director of Financial Aid (Dr. Ojebe Ifegwu) Corrective Action: The University concurs with the finding. In selecting among eligible students for FSEOG in each award year, the office of Financial Aid will select first those students with the lowest expected family contribution and the highest need who also received Federal Pell Grants in that year. Management will implement and document an internal audit review. A monthly reconciliation will be completed to ensure Pell recipients are awarded FSEOG, based on the guidance provided by the Federal handbook. Anticipated Completion Date: June 30, 2025

View Audit 351972

Finding 548598 (2024-001)

None 2024

Visible Music College

TN

Student Financial Aid Matching / Level of Effort / Earmarking

AUDIT FINDING Finding 2024-001 Incorrect Title IV (R2T4) Calculation MANAGEMENT'S COMMENTS ON FINDINGS AND RECOMMENDATIONS We concur with the auditor’s finding and identification of a deficiency in our internal controls. MANAGEMENT'S CORRECTIVE ACTION PLAN We will enact stronger controls to en...

AUDIT FINDING Finding 2024-001 Incorrect Title IV (R2T4) Calculation MANAGEMENT'S COMMENTS ON FINDINGS AND RECOMMENDATIONS We concur with the auditor’s finding and identification of a deficiency in our internal controls. MANAGEMENT'S CORRECTIVE ACTION PLAN We will enact stronger controls to ensure that all R2T4s are accurately calculated and the proper amounts are refunded in a timely manner. EMPLOYEE/ DIVISION RESPONSIBLE Financial Aid Director TIMELINE AND ESTIMATED COMPLETION DATE Immediately

View Audit 351950

Finding 548595 (2024-003)

Significant Deficiency 2024

Benjamin Franklin Cummings Institute of Technology

MA

Student Financial Aid Reporting Matching / Level of Effort / Earmarking

Finding number: 2024-003 Federal agency: U.S. Department of Education Programs: Student Financial Assistance Cluster Assistance Listing #: 84.063, 84.268 Award year: 2024 Corrective Action Plan: Franklin Cummings Tech recognizes the importance of submitting the correct dates for withdrawals. These e...

Finding number: 2024-003 Federal agency: U.S. Department of Education Programs: Student Financial Assistance Cluster Assistance Listing #: 84.063, 84.268 Award year: 2024 Corrective Action Plan: Franklin Cummings Tech recognizes the importance of submitting the correct dates for withdrawals. These errors found in the audit resulted from how our previous Student Information System dated status changes. Our new Student Information System, Jenzabar, has inherent system features that will control this process more effectively. To ensure this, the Registrar will review a minimum of 50% of the withdrawals processed since the previous file submission to ensure that the date matches the withdrawal date. The Controller will also review a sample of withdrawals on the file at least once per semester to ensure this process is being followed. Timeline for Implementation of Corrective Action Plan: April 2025 Contact Person: James Klasen, Registrar

View Audit 351935

Finding 548593 (2024-002)

Significant Deficiency 2024

Benjamin Franklin Cummings Institute of Technology

MA

Student Financial Aid Matching / Level of Effort / Earmarking

Finding number: 2024-002 Federal agency: U.S. Department of Education Programs: Student Financial Assistance Cluster Assistance Listing #: 84.063, 84.268 Award year: 2024 Corrective Action Plan: Given the continuing challenges of using an antiquated Student Information System to manage student withd...

Finding number: 2024-002 Federal agency: U.S. Department of Education Programs: Student Financial Assistance Cluster Assistance Listing #: 84.063, 84.268 Award year: 2024 Corrective Action Plan: Given the continuing challenges of using an antiquated Student Information System to manage student withdrawals, FC Tech has taken the following actions as of October 1, 2024: 1. Hired a New Director of Financial Aid (September 2024) 2. Converted our Student Information System from Unit 4/CAMS to Jenzabar 3. Implemented internal procedures that include staff from Financial Aid, FA Solutions (BFCIT third-party service provider), Student Accounts & Registrar’s Office Specific Controls Implemented: 1. FA Solutions will provide a monthly report identifying students that have withdrawn from BFCIT. This report will include: a. Student Name b. Date required funds must be returned c. Status of each withdrawal: i. Completed on-time ii. In process and still within timeframe to complete the return iii. In process and at risk of not completing timely 2. The new Financial Aid Director has created, and will oversee, a Withdrawal Tracking Spreadsheet to track the progress of all Withdrawals. This spreadsheet has built-in critical dates. 3. Inherent within our new Student Information System (Jenzabar) there are built in controls that will ensure compliance and assist with the timely processing of Withdrawals and the return of Federal Funds 4. Effective October 2024 a Management Report has been created that summarizes all active withdrawals. This report will be sent to the CFO and Controller no later than 10th business day of each month. Timeline for Implementation of Corrective Action Plan: October 2024 Contact Person: Sabina Yesmin, Director of Financial Aid

View Audit 351935

Finding 548592 (2024-001)

Significant Deficiency 2024

Benjamin Franklin Cummings Institute of Technology

MA

Questioned Costs Student Financial Aid

Finding number: 2024-001 Federal agency: U.S. Department of Education Programs: Student Financial Assistance Cluster Assistance Listing #: 84.033 Award year: 2024 Corrective Action Plan: Benjamin Franklin Cummings Institute of Technology is committed to ensuring that the Federal Work-Study students ...

Finding number: 2024-001 Federal agency: U.S. Department of Education Programs: Student Financial Assistance Cluster Assistance Listing #: 84.033 Award year: 2024 Corrective Action Plan: Benjamin Franklin Cummings Institute of Technology is committed to ensuring that the Federal Work-Study students do not work during their scheduled class times and that all federal rules and regulations are strictly followed. To uphold this commitment, the College has implemented the following measures: • Providing comprehensive education and training to students and departments that employ Federal Work-Study students at the beginning of each semester. • A bi-monthly reminder of the federal policies for Work-Study will be sent to Department Heads • Establishing clear guidelines for staff supervisors, reinforcing that students cannot work during their scheduled class times. • Verifying class schedules and scheduled work hours to prevent scheduling conflicts. • Coordinating efforts between the Financial Aid Office, Business Office, and Human Resources to ensure compliance with federal regulations. Timeline for Implementation of Corrective Action Plan: April 2025 Contact Person: Sabina Yesmin, Director of Financial Aid

View Audit 351935 Questioned Costs: $1

Corrective Action Plans

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