Finding Text
Cost of Attendance Calculation Inputs (repeat finding) Finding Type. Immaterial Noncompliance/Significant Deficiency in Internal Control over Compliance (Eligibility). Programs. Student Financial Assistance Cluster; U.S. Department of Education; Assistance Listing Numbers 84.007, 84.033, 84.063, and 84.268; Award Numbers P007A242049, P033A242049, P063P241644, P063Q241644 and P268K251644. Criteria. In accordance with 34 CFR 668.42 (FWS), 34 CFR 673.5 and 673.6 (FSEOG), and 34 CFR 685.301 (Direct Loan), as referenced in the Compliance Supplement, total Title IV aid awarded to a student may not exceed the student’s financial need or cost of attendance (COA). Institutions must ensure that COA components are accurately determined and consistently applied. Condition. During our testing of the College’s cost of attendance (COA) calculations, we identified inconsistencies between the COA component amounts recorded in the system and the amounts documented on the College’s COA calculation sheet. For instance, the College's tuition component was supposed to be based on credit intensity, but instead was being calculated using the student's enrollment status (e.g., full-time, half-time, etc.). Additionally, the College included direct loan fees in every students COA, even if they were not a direct loan receiving student. Cause. The College does not have a review process in place for ensuring the inputs used in the cost of attendance determination are accurate. Effect. As a result, COA amounts used in awarding Title IV aid were being understated, preventing some students from potentially receiving additional aid they were entitled to. Questioned Costs. No costs were required to be questioned as a result of this finding insomuch as our testing did not reveal any unallowed costs. Recommendation. We recommend that the College establish and adhere to review procedures to ensure that all inputs used in the COA calculation are accurate, complete, and consistent with approved documentation. View of Responsible Officials. Management agrees with this finding and has prepared a Corrective Action Plan.