Finding Text
Federal Agency: U.S. Department of Education
Federal Program Name: Student Financial Aid Cluster
Assistance Listing Number: 84.268
Federal Award Identification Number: P268K241946
Award Period: July 1, 2023 – June 30, 2024
Type of Finding: Significant Deficiency in Internal Control over Compliance, Other Matters
Criteria or Specific Requirement: In accordance with CFR 685.200(2)(i), a Direct Subsidized Loan
borrower must demonstrate financial need in accordance with title IV, part F of the Act.
Condition: A student received a Direct Subsidized Loan that did not demonstrate financial need.
Questioned Costs: $5,500
Context: This condition occurred for one out of forty students.
Cause: The University’s controls over the awarding of the appropriate aid based off need were not
functioning as designed.
Effect: A student received Title IV funding for which they were not eligible.
Repeat Finding: No
Recommendation: We recommend the University establish additional policies to ensure all students
meet the financial need criteria before awarding Title IV funds.
Views of Responsible Officials: There is no disagreement with the audit finding and the University is
in the process of implementing corrective procedures.