2022?001 Direct Loan Awarding Federal Direct Student Loans ? Assistance Listing No. 84.268 Auditors? Recommendation: We recommend that the University ensures they have appropriate policies and procedures, as well as safeguards in place to ensure loan eligibility is correctly determined. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: Point has completed the following: 1. Extensive training delivered by external vendor, Enrollment Fuel, in October 2022 focusing on financial aid awarding and cost of attendance. 2. Point University has contracted with Financial Aid Services, Inc. (FAS), whose services begin in April 2023. As an approved third-party financial servicing vendor, FAS will conduct student packaging and review to determine appropriate loan amounts are awarded for all degree-seeking students. 3. The institution will be is changing from BBAY to SAY packaging beginning in Fall 2023 for all students. Uniform packaging procedures for all students which will improve accuracy. 4. The institution is transitioning student information system to Ellucian Colleague, which is being configured for more automated packaging, which will reduce manual errors. Name(s) of the contact person(s) responsible for corrective action: Rusty Hassell, Chief Enrollment Officer; Rachal Wortham, Director of Financial Aid Quality and Compliance; Holly Hardnett, Director of Financial Aid Planned completion date for corrective action plan: 1. October 2022 ? training complete 2. April 2023 ? FAS implementation complete 3. August 2023 4. August 2023