Finding Text
Federal Agency –Department of Education, Student Financial
Assistance Cluster, Federal Supplemental Educational
Opportunity Grants, Assistance Listing Number 84.007; Federal
Work Study Program, Assistance Listing Number 84.033; Federal
Pell Grant Program, Assistance Listing Number 84.063; Federal Direct Loan Program, Assistance Listing Number 84.268. Federal Award Program Year – May 1, 2023 – April 30, 2024
Criteria or Specific Requirement – Special Tests and Provisions – Return of Funds – When a recipient of Title IV grant or loan assistance withdraws from an institution during a payment period of enrollment in which the recipient began attendance, the institution must determine the amount of Title IV aid earned by the student as of the student’s withdrawal date. If the total amount of Title IV assistance earned by the student is less than the amount that was disbursed to the student on his or her behalf as of the date of the institution’s determintation that the student withdrew, the difference must be returned to the Title IV programs as outlined in this section and no additional disbursements may be made to the student for the payment period or period of enrollment (34 CFR Sections 668.22(a)(1)-(3)).
Condition – While the earned percentage was appropriately calculated and determined, an incorrect amount of funds was returned.
Questioned Costs – $1,381
Context – Out of a population of 38 calculations performed during the examination period, an incorrect amount was returned to the Department of Education for two students due to a discrepancy in the amount of disbursed or available aid. For one additional student, the amount of the return was calculated correctly, but the funds were never returned. We tested all calculations in the population.
Cause – The amount of aid originally disbursed was documented incorrectly, or missing communication between the financial aid and business offices.
Effect – The University returned the incorrect amount of funds to the Department of Education.
Identification as a Repeat Finding – N/A
Recommendation – We recommend that the University be diligent in performing secondary reviews to ensure the calculations are performed correctly and funds are adequately returned.