2025-001 Federal Program - Student Financial Assistance Cluster - Assistance Listing Nos. 84.063, Federal Pell Grant Program and 84.268 Federal Direct Student Loans U.S. Department of Education Program Year 2024-2025 - Return of Title IV Funds Finding Summary: The University is responsible for calculating and determining the amount ofTitle IV aid earned by a student when they withdraw from the institution during a payment period and identifying if a post-withdrawal disbursement is applicable. The University is responsible for returning any unearned aid within the required time frame outlined by 34 CFR 668.173(b). Recommendation: The University should establish controls designed to support accurate review of Title IV fund calculation and timely return of funds within the required time frame. Action taken in response to finding: The Office of Financial Aid has established a procedure when the dates are being set for the award year, the term's start date, end date, and consecutive break periods will be submitted to the Provost and Vice President for Academic Affairs for review and approval. A copy of the reviewed and approved dates will be retained within Financial Aid. The Office of Financial Aid also established, internally, an electronic tracking list for Return to Title IV, which will capture post withdrawal offers. Within the list the date of the student's notification is noted, along with the due date of post withdrawal loan acceptance offers. Finally, the Office of Financial Aid established, internally, an electronic tracking list for officially and unofficially withdrawn students. All students reported to the Financial Aid Office as withdrawn are placed on this list to track their progress form initial reporting to Financial Aid, date assigned to the counselor, receipt of R2T4 calculation or date of determination that the calculation is not required in the case of the students not using Title IV awards, reporting date to Common Organization & Disbursement (if applicable), and reporting date of adjustments sent to Bursar Office. Name(s) of the contact person(s) responsible for corrective action: Jason Reavis Planned completion date for corrective action plan: January 1, 2026