Finding Text
Federal Program:
U.S. Department of Education:
Student Financial Aid Cluster:
Federal Pell Grant, Assistance Listing 84.063
Federal Supplemental Education Opportunity Grant, Assistance Listing 84.007
Direct Loan Program, Assistance Listing 84.268
Criteria: The College must comply with 34 Section 668.22.
Condition: During our testing of official withdrawals, we reviewed the calculation used by the College for the return of funds and noted 2 instances of the wrong withdrawal date being used in the return of funds calculation.
Cause: The College does not have a procedure in place to properly review the withdrawal date used in the return of funds calculations.
Effect: The provisions of 34 CFR Section 668.22 were not followed and thus 2 students had incorrect return of funds calculations.
Questioned Costs: Known questioned costs total $16 that should have been returned and $219 that should not have been returned as a result of our testing.
Recommendation: We recommend that the College review and revise their policies and procedures related to the return of funds calculation. The College should ensure the correct withdrawal date is used the return of funds calculation. Additional training should be provided to relevant staff on the proper calculation methods to enhance compliance and accuracy.
View of responsible officials and planned corrective actions: The College has reviewed its policies and procedures related to return of funds calculations. When a student wants to withdraw from the College, the student will complete an online withdrawal form. Once the form is completed, an electronic copy of the form is sent to several offices, Financial Aid being included. The Financial Aid Office will use the date on the electronic withdraw form in the Return of Title IV calculation.