Finding 1216158 (2025-001)

Federal Program: Student Financial Assistance Cluster - Federal Direct Student Loans Federal Agency: U.S. Department of Education Pass-Through Entity: Not applicable Assistance Listing Number: 84.268 Federal Award Year: August 31, 2025 Criterion: Title IV regulations (34 CFR 668.22) requires that when a recipient of Title IV grant or loan assistance withdraws from an institution during a payment period or period of enrollment in which the recipient began attendance, the institution must determine the amount of Title IV grant or loan assistance that the student earned as of the student's withdrawal date in accordance with Federal regulations and return the unearned portion of the grant or loan funds to the Title IV programs as soon as possible but no later than 45 days after the withdrawal date. Condition and Context: The return of Title IV funding for one student, out of seven selected for testing, was not returned within 45 days of withdrawal. The sample was not statistically valid. Questioned Costs: None Cause: The University did not properly calculate the number of days following the students withdrawal due to a reporting error. Effect: The University returned the correct amount after the 45 day requirement. Recommendation: The University should reevaluate the existing process and related control to ensure that the Title IV funds are returned timely. Management Response: Management agrees with the finding. The Director of Financial Aid will ensure the implementation of procedures and controls in fiscal 2026 to ensure timely return of Title IV funds.