Finding Text
CRITERIA: 34 CFR part 690 establishes rules governing the accuracy and timeliness of enrollment reporting to the National Student Loan Data System (“NSLDS”). Schools are required to confirm and report to the National Student Loan Data System (“NSLDS”) the enrollment status of students who receive federal funds. Enrollment information is used to determine the borrower’s eligibility for in-school status, deferment, interest subsidy, and grace period. Enrollment changes, such as a change from full-time to half-time status, graduation, withdrawal, or an approved leave of absence, are changes that need to be reported. The enrollment information is merged into the NSLDS database and reported to guarantors, lenders, and servicers of student loans. CONDITION: Through our Enrollment Reporting testing, we noted 1 out of 40 selections for which the students had a change in enrollment status but were not included in the enrollment reporting to NSLDS within 60 days of the change in enrollment. QUE STIONED COSTS: None. CAUSE/EFFECT: The student’s degree was awarded retroactively in Banner after the Spring degree verification file had been submitted to the National Student Clearinghouse. The College did not identify and report degrees posted after the standard reporting cycle concluded. Additionally, staff turnover in the Registrar’s office contributed to the oversight. The student’s “Graduated” status was not reported to NSLDS within the required 60-day timeframe, therefore the College was not in compliance with the Enrollment Reporting timeline requirements for this student. RECOMMENDATION: The auditor recommends the College enhance its process and incorporate multiple individuals in the process to ensure that student enrollment changes are captured and reported timely. VIEW OF RESONSIBLE OFFICIALS: Management concurs with this finding and has taken steps towards the reassessment of controls, review these accounts and implement controls to ensure that timely reporting to NSC is performed.