FAC Explorer

Finding 1123453 (2024-001)

- Repeat Finding
Requirement
N
Questioned Costs
-
Year
2024
Accepted
2025-03-31
Audit: 351393
Organization: Caribbean University, Inc. (PR)
Auditor: Baker Tilly Puerto Rico CPAS Psc

AI Summary

  • Issue: The Institution failed to notify the Secretary about changes in enrollment status for six students with federal loans.
  • Trend: This delay in reporting could lead to compliance issues and affect federal loan management.
  • Follow-up: Review and improve processes for timely reporting of enrollment status changes to avoid future issues.

Finding Text

The Institution did not notify the Secretary through the NSLDS in a timely manner the change in the enrollment status (withdrew/graduated) of six (6) student with federal loans during the academic period covering the fiscal year 2023 - 2024

Categories

Student Financial Aid Matching / Level of Effort / Earmarking

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
84.063 Federal Pell Grant Program $8.47M
84.268 Federal Direct Student Loans $7.11M
84.007 Federal Supplemental Educational Opportunity Grants $73,989
84.033 Federal Work-Study Program $63,238
84.379 Teacher Education Assistance for College and Higher Education Grants (teach Grants) $27,816