Finding Text
Criteria: Regulations require the Institution refunds calculated for students who withdrew during a semester
be remitted to the Department of Education timely, within 45 days of withdrawal.
Condition: Fourteen students were selected for withdrawal test work. Of those fourteen students, the
Institution calculated an amount that needed to be returned for 8 of those students (four students tested didn’t
have to return any funds, met the requirement to keep all aid received). Six of those eight students who
required funds to be returned based upon their withdrawal terms and resulting return of funding calculations
were not returned timely to the Department of Education.
Cause: Weak process and controls over the return of funds for students who withdrew from the Institution.
Effect: Funds were held in the University’s cash account longer than necessary and such funds were no longer
technically the property of the University after the student withdrew from the University.
Questioned costs: $-0-
Perspective information: See table below: Identification of repeat findings: Yes, See FA-2022-005.
Recommendation: The University should increase its efforts through training to ensure that federal refunds
are calculated and remitted timely when students withdraw from the Institution.
Views of responsible officials: See Client’s Corrective Action Plan.