Finding Text
Finding 2022-001 - U.S. Department of Education (USDE), Title IV Student Financial Aid Programs (Significant Deficiency): Information on the federal program: Federal Direct Student Loans, CFDA No. 84. 268, June 30, 2022; Federal Pell Grants Program, CFDA No. 84.063, June 30, 2022; Federal Supplemental Educational Opportunity Grant, CFDA No. 84.007, June 30, 2022; Federal Work-Study Program, CFDA No. 84. 033, June 30, 2022. Criteria - Federal regulations governing Title IV programs. Condition - non-compliances were noted, as more fully described in the context below. Questioned Costs - As provided below. Context- We observed the following conditions in connection with our testing of the various U.S. Department of Education, Title IV, Student Financial Assistance Programs. ? Two (2) out of five (5) students tested for R2T 4 calculations and refunds did not have funds returned back to the U.S. Department of Education within the required 45 days. Cause - Oversight by responsible employees. Effect - The University's participation in the Title IV programs could be subject to USDE sanctions as applicable. Repeat Finding - No. Auditor's Recommendation - The University should implement corrective actions to ensure that the above finding are resolved and will not recur in future periods.