Finding 22689 (2022-005)

Significant Deficiency Repeat Finding
Requirement
N
Questioned Costs
-
Year
2022
Accepted
2023-03-30
Audit: 21940
Organization: Marymount University (VA)

AI Summary

  • Core Issue: Three out of five students had incorrect R2T4 calculations affecting their refunds.
  • Impacted Requirements: Attendance records and proper documentation for financial aid must be accurately maintained.
  • Recommended Follow-Up: Review and correct R2T4 calculations and ensure all financial aid documentation is complete before processing withdrawals.

Finding Text

Criteria: If an institution is not required to take attendance, the institution may use as the withdraw date, the date that the student began the withdrawal process as prescribed by the institution. Condition: Based on professional judgement, we selected six students for withdraw testing and five of the six students required a refund based on documented correspondence. Three of the five had incorrect R2T4 calculations. Cause: The first student?s institutional charges were incorrect on the R2T4 calculation. The second student?s direct loans were entered as aid that could have been disbursed, but there was not a promissory note signed by the student. A withdrawal date was used for the third student, however, the student never attended during the semester.

Corrective Action Plan

Marymount University administration acknowledges the findings from the 2021-2022 audit. Marymount administration takes the findings, which arose as part of the fiscal year 2021-2022 audit, very seriously and, following a root cause analysis, has put in place the following comprehensive corrective action plan: - Marymount University has experienced a turnover in the financial aid office from the Director down to the counselor position. Transitional issues have arisen from the turnover, including lack of continuity in office processes and lack of knowledgeable staff. - In late 2022, Marymount University contracted with Attain Partners, LLC, to provide interim management services in Financial Aid. After the turnover of personnel, this was necessary to fill the void created by the departure of the Director of Financial Aid and other staff. The Attain Partners consultants have provided the interim management services to assure compliance with Title IV regulations, including Return to Title IV Funds process. - Due to the turnover in the office, the calculations were not completed. Attain Partners has completed the reconstruction and COD updates. - Current R2T4 processes are in line with Title IV regulations. Attain Partners will assure timely processing going forward. - Attain Partners will be reviewing existing processes related to student financial aid. As an outcome of this review the processes and schedule will be fully documented and implemented as documented.

Categories

Student Financial Aid Matching / Level of Effort / Earmarking

Other Findings in this Audit

  • 22687 2022-003
    Significant Deficiency Repeat
  • 22688 2022-004
    Significant Deficiency Repeat
  • 599129 2022-003
    Significant Deficiency Repeat
  • 599130 2022-004
    Significant Deficiency Repeat
  • 599131 2022-005
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Loan Program $33.12M
84.425 Education Stabilization Fund $3.62M
84.063 Federal Pell Grant Program $2.48M
84.033 Federal Work Study Program $196,664
84.007 Federal Supplemental Educational Opportunity Grant Program $139,253
47.076 Grants to Reduce Domestic Violence, Dating Violence, Sexual Assualt and Stalking on Campus $70,650