Finding Text
Information on the Federal Program – Department of Education, Student Financial Assistance Cluster, Federal Supplemental Educational Opportunity Grant Program, CFDA 84.007; Federal Work-Study Program, CFDA 84.033; Federal Pell Grant Program, CFDA 84.063; Federal Direct Student Loan Program, CFDA 84.268. Program Year – July 1, 2024 – June 30, 2025 Criteria for Specific Requirement – The Department of Education requires the college to report the disbursement dates and amount on student ledgers that match the disbursement dates and amount reported to the Common Origination and Disbursement (COD) (34 685.301(a)(2)(iii)). Condition – Disbursement records (Student account statements) did not reflect agreement between disbursement dates (COD), as required. Questioned Costs – None – nonmonetary finding Context – During our testing, we noted 10 of the 10 disbursements tested had incorrect Pell and/or Direct Loan disbursement dates reported to the Common Origination and Disbursement (COD) system. Cause – In November of 2023, Providence Christian College faced significant institutional turnover. The Financial Aid Director of 15 years left the institution. The appointed successor to the Financial Aid Director then made a decision to leave the institution on December 15th, 2023. This institutional turmoil created upheaval in the department and required the assistance of a consultant. The current provider, Campus Ivy, was not able to provide consulting services and so Providence contracted with FA Solutions to bring stability to the Financial Aid Department. In the turnover and transition from employees and third party servicers, there was miscommunication and misunderstanding due to institutional ignorance. We reflected the internal dates of receipt in our SIS when the cash payment was received (typically a day or two after the disbursement date). This is because entries had always been manually created by the former Financial Aid Director and we did not understand that this process would be out of compliance with the way FA Solutions was processing financial aid. Effect – The College is not in compliance with the Department of Education regulations. Identification as a Repeat Finding – N/A Recommendation – We recommend the College evaluate its procedures and policies around reporting Pell and Direct Loan disbursements to COD to ensure that student information is reported accurately and timely.