Finding 371221 (2023-002)

-
Requirement
C
Questioned Costs
$1
Year
2023
Accepted
2024-02-29

AI Summary

  • Core Issue: Timely processing of Title IV calculations is essential for compliance and student support.
  • Impacted Requirements: Financial aid education on attendance and grades, and proper notification of withdrawals are critical.
  • Recommended Follow-up: Ensure all departments are aligned on processes and review student cases for aid adjustments regularly.

Finding Text

The Universities have partnered both financial aid and academic departments to work on all return of Title IV calculations in a timely manner. The financial aid department will educate all students at the time of initial packaging on the importance of attendance and grades as it pertains to all aid. The registrar’s office will notify the financial aid office and business office of all withdrawals and/or drop by emailing the applicable form to them for the students record keeping and processing. The financial aid office will then process the R2T4 (through the Cod R2T4 calculator, no manual FA withdraw checklist needed) upon notification from the BO of any applicable student account adjustments. The student will be notified via email and funds will be returned with in the 45-day return window. Or a PWD notice will be mailed to the student or applicable loan processing. The four students will be reviewed, and aid returned if applicable.

Corrective Action Plan

The universities have partnered both financial aid and academic departments to work on all return of Title IV calculations in a timely manner. The financial aid department will educate all students at the time of initial packaging on the importance of attendance and grades as it pertains to all aid. The registrar's office will notify the financial aid office and business office of all withdrawals and/or drop by emailing the applicable form to them for the students record keeping and processing. The financial aid office will than process the R2T4 (through the COD R2T4 calculator, no manual FA withdraw checklist needed) upon notification from the business office of any applicable student account adjustments. The student will be notified via email and funds will be returned within the 45-day return window. Or a PWD notice will be mailed to the student for applicable loan processing. The four students will be reviewed, and aid returned if applicable.

Categories

Questioned Costs Student Financial Aid Matching / Level of Effort / Earmarking

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $14.42M
84.063 Federal Pell Grant Program $5.10M
84.007 Federal Supplemental Educational Opportunity Grants $206,622
84.033 Federal Work-Study Program $82,118