Finding 366508 (2023-001)

Subject: Corrective Action Plan for Title IV Federal Financial Aid Audit Finding Responsible Party: Jill Jonhson, Registrar, johnsoj@smcsc.edu 864-587-4232 We appreciate the opportunity to address the finding related to the untimely reporting of withdrawn and graduated students to the National Student Loan Data System (NSLDS) during the recent Title IV Federal Financial Aid audit. We acknowledge the importance of accurate and timely reporting and have taken immediate corrective actions to rectify the identified issue. 1. Root Cause Analysis: Upon investigation, we identified that the finding was a result of a recent change in the software system used for reporting data to the National Student Clearinghouse (Clearinghouse) which in turn is reported to NSLDS. This change led to a disruption in the timely reporting of students who withdrew or graduated from our institution. 2. Immediate Correction: As soon as the error was identified, our IT team worked promptly to update the system configuration. This correction ensured that all relevant data for withdrawn and graduated students was accurately pulled and submitted to Clearinghouse and NSLDS. 3. Verification and Submission: We have thoroughly reviewed the data to ensure that all students who withdrew or graduated during the audit period have been correctly reported to Clearinghouse. Subsequently, accurate information has been submitted to the NSLDS to fulfill reporting requirements. 4. System Enhancement: To prevent similar issues in the future, we have enhanced our system configuration. This includes implementing additional checks and validations to ensure that the reporting of withdrawn and graduated students is consistently accurate and timely. Our IT team, the Registrar's Office, and Financial Aid Director have conducted rigorous testing to verify the effectiveness of these enhancements. 5. Monitoring and Oversight: Going forward, we will establish a robust monitoring and oversight mechanism to regularly review the data reporting process. This proactive approach will help identify and address any potential issues before they impact compliance with NSLDS reporting requirements. We are confident that the corrective actions implemented will prevent a recurrence of this issue and enhance the accuracy and timeliness of our NSLDS reporting. We remain committed to maintaining the highest standards of compliance with federal regulations and appreciate your understanding in this matter.