Finding Text
Finding number: 2024-004 Federal agency: U.S. Department of Education Programs: Student Financial Assistance Cluster, and Assistance Listing #: 84.063 Award year: 2024 Criteria According to 34 CFR 690.62(b)(1)(ii): If an institution determines that the amount of a Federal Pell Grant for that student exceeds the cost of attendance for that year, the amount of the Federal Pell Grant must be reduced until the Federal Pell Grant does not exceed the cost of attendance at such institution and does not result in a title IV credit balance under 34 CFR 668.164(h). Condition Federal regulations require the College to ensure need based aid (Pell) does not exceed the calculated financial need of the student. During our testing, we noted 1 student, out of a sample of 60, who received Pell awards in excess of their calculated need. Cause The College did not properly reduce the need of the student by their expected family contribution, resulting in Pell being awarded in excess of financial need. Effect The college over awarded Pell in the amount of $1,061. Questioned Costs 1,061 Perspective Our sample was not, and was not intended to be, statistically valid. Of the 60 students selected for testing, 1 student, or 1.7% of our sample, had Pell awards in excess of their eligible amount. Identification as a Repeat Finding, if applicable Not applicable Recommendation We recommend that management of the College review, and if necessary, update the policies and procedures to ensure all Pell funds disbursed do not exceed the student’s documented need. View of Responsible Officials The College agrees with the finding and has implemented the corrective action plan within the management corrective action plan section of this report.