Finding Text
Assistance Listing, Federal Agency, and Program Name Student Financial Assistance Cluster - Federal Direct Student Loans Program (ALN 84.268), Federal Work Study Program (ALN 84.033), Federal Supplemental Educational Opportunity Grant Program (ALN 84.007), and Federal Pell Grant Program (ALN 84.063) Federal Award Identification Number and Year - Various Pass through Entity - None Finding Type - Significant deficiency Repeat Finding - Yes 2024-001 Criteria - If an institution enters into a Tier One arrangement with a third party servicer, as defined in CFR 668.164(e)(1), the institution must provide to the secretary an up to date URL for the contract and contract data, as described in paragraph (e)(2)(vii) of this section for publication in a centralized database accessible to the public. Condition - Colleges are required to disclose the arrangement on their website, as well as other disclosure requirements outlined in 34 CFR 668.164. The school did not provide a URL for the contracts or cost information of its Tier One provider to the Department of Education for publication in the Cash Management Contracts Database. Questioned Costs - None If questioned costs are not determinable, description of why known questioned costs were undetermined or otherwise could not be reported - N/A Identification of How Questioned Costs Were Computed - None Context - The College did not provide a URL for the contracts or cost information of its Tier One provider to the Department of Education for publication in the Cash Management Contracts Database. Cause and Effect - A control was lacking to ensure the URL for the contract of its Tier One Provider was published in the Cash Management Contracts Database. Recommendation - We recommend a control be implemented to ensure new contracts or cost information are published in the Cash Management Contracts Database. Views of Responsible Officials and Planned Corrective Actions - The URL associated with Lake Michigan’s required disclosure has now been provided to the secretary via the associated Department of Education’s instructions.