Finding Text
Federal Program Information: Student Financial Assistance Cluster: Federal Supplemental Education Opportunity Grants (ALN 84.007), Federal Work- Study Program (ALN 84.033), Federal Pell Grant Program (ALN 84.063), Federal Direct Loan Program (ALN 84.268)
Criteria or Specific Requirement: Special Tests and Provisions – Return of Title IV Funds - When a recipient of Title IV grant or loan assistance withdraws from an institution during a payment period or period of enrollment in which the recipient began attendance, the institution must determine the amount of Title IV aid earned by the student as of the student’s withdrawal date.
Condition: The University did not prepare a certain student’s return calculation properly.
Cause: Administrative oversight.
Effect or Potential Effect: Over or underpayment of Title IV funds.
Questioned Costs: Below reporting threshold.
Context: For 1 of 4 students tested, the University did not accurately determine both the calendar days completed and the period of enrollment when calculating the percentage of Title IV aid earned.
Identification as a Repeat Finding: There was no similar finding identified during the prior year.
Recommendation: We recommend that the University enhance its procedures over the preparation and review of R2T4 calculations to ensure compliance with the return of Title IV funds requirements.
Views of Responsible Officials: An incorrect date was used to process one student’s Return ofTitle IV (R2T4) calculation. Training has been provided to financial aid staff in properly performing the R2T4 calculations and a report is being run several times a month to identify possible data entry errors in R2T4 calculations.