Finding Text
The following items are noted related to disbursements to and behalf of certain students:
(1) For one out of forty samples tested, the student did not receive the maximum subsidized loan
amount prior to disbursing unsubsidized loans;
(2) For one out of forty samples tested, the student had more than $200 from current year's Title
IV funds applied to pay off a prior year balance;
(3) For the forty samples selected, three students were first time borrowers. For two out of six first
time borrowers, the direct loans were disbursed less than 30 days from when the classes
started; and
(4) For one of the forty samples tested, the student had a credit balance of more than $200 at the
end of the academic year that was refunded more than 14 days of when the Title IV funds were
posted on student's account statement.