Finding Text
Inaccurate Return of Title IV Funds (R2T4) DEPARTMENT OF EDUCATION ALN #: 84.268 Federal Direct Student Loans Federal Award Identification #: 2021-2022 Financial Aid Year Condition: One student had an incorrect R2T4 performed. Criteria: 34 CFR 668.22 Questioned Costs: $841 Context: One student out of 14 tested for withdrawals had federal loans included in aid that could have been disbursed. The student did not begin half time attendance, and the eligibility for federal loans should have been removed. This was corrected during the audit process. Cause: The inclusion of the aid in the aid that could have been disbursed column was an oversight. The withdrawal date was before the loan was disbursed. Effect: The student received subsidized loans for which they were not eligible. Identification as repeat finding, if applicable: Not applicable. Recommendation: We recommend the review process include students who are registered for the minimum hours to receive loans. Views of Responsible Officials and Planned Corrective Action: Management agrees with the finding. See corrective action plan.