Finding Text
Finding 2024-002: Eligibility
Federal Program: Federal Direct Student Loans [84.268] and Federal Pell Grant Program [84.063]
Criteria: Per the 2023-2024 Federal Student Aid Handbook, chapter 3 Packaging Aid, the total amount of need-based aid cannot exceed the student’s financial need and the total amount of all aid cannot exceed the student’s cost of attendance.
Condition: During testing of eligibility, 2 out of 40 students were noted as having total aid awarded in excess of cost of attendance. The total amounts in excess combined were $3,240.
Cause: When the student’s loans were packaged, all of the students aid was not included in the calculation.
Effect: The students received total aid awarded in excess of their cost of attendance.
Questioned Costs: $3,240
Context: This is a systemic problem.
Repeat Finding: This is not a repeat finding.
Recommendation: We recommend the Academy review their controls to ensure all financial aid is included in the calculations when packaging students to prevent over-awarding.