Finding Text
Condition Found: A Federal Direct Loan exit interview was not completed by, nor were instructions sent to, students on how to complete an exit interview when the students graduated from the University or dropped below a halftime enrollment status. This omission occurred for seven of the eighteen students in our sample. Criteria: Federal Direct Loan recipients must receive exit interview counseling. If in-person counseling is not completed, the University may mail written counseling materials to a student’s last known address. Cause: Federal Direct Loan exit counseling was not provided when students withdrew from the University or dropped below a halftime enrollment status. This was an oversight on the part of the financial aid office staff. Effect The students were not aware of their responsibilities related to the Federal Direct Loan program, including repayment options and when repayment on the loan begins. Repeat Finding: There was not a similar finding in the previous year. Statistical Sampling: The sample was not intended to be, and was not, a statistically valid sample. Recommendation: Federal Direct Loan exit interview information should be sent to the students in question. Procedures should be improved to ensure that Federal Direct exit interviews are completed or information is sent to a student when a student ceases attendance at the University or drops below a halftime enrollment status. Management Response: Federal Direct Loan exit interview information was sent to the students in question in August 2023. Procedures will be improved to ensure Federal Direct Loan exit interviews are completed or information is sent to students when they cease enrollment at the University.