Finding Text
FINDING 2024-001: Incorrect Title IV (R2T4) Calculation
CRITERIA: In accordance with 34 CFR 668.22(1) when a recipient of Title IV grant or loan
assistance withdraws from an Institution during a payment period or period of enrollment in which
the recipient began attendance, the Institution must determine the amount of Title IV grant or loan
assistance that the student earned as of the student's withdrawal date.
CONDITION: The Institution calculated the R2T4 incorrectly.
CAUSE: The Institution did not follow its ordinary procedures to accurately and timely perform
R2T4 calculations.
EFFECT: The Institution over returned Title IV funds.
NATURE, EXTENT OF ISSUE, AND QUESTIONED COSTS: In two instances out of 50 files reviewed,
of which 25 students withdrew, the Institution calculated the R2T4 incorrectly. Both instances
resulted in over refunding Title IV funds that were earned by the Institution. This is not considered
a material finding.
No. of Students FPELL FDLP FSEOG Total
Universe 128 434,190 1,308,216 13,725 1,756,131
Sample Size 50 170,171 408,716 6,600 585,487
Sample for this Attribute 25 84,494 193,091 3,500 281,085
Instances of Non Compliance 2 1,968 597 200 2,765
Level of Materiality Immaterial
RECOMMENDATION: We recommend the Institution review all withdrawn students to ensure that
all R2T4 calculations are completed, accurate, and the required funds are returned the USDOE.
VIEWS OF RESPONSIBLE OFFICIAL: The Institution concurs with this finding and has procedures
in place as outlined in the Corrective Action Plan to ensure compliance with requirements.