Finding Text
Criteria: Title IV regulations (34 CFR 685.309(b)) require that upon receipt of an enrollment report from the Secretary, institutions must update all information included in the report and return the report to the Secretary: (i) in the manner and format prescribed by the Secretary; and (ii) within the timeframe prescribed by the Secretary. Unless it expects to submit its next updated enrollment report to the Secretary within the next 60 days, an institution must notify the Secretary within 30 days after the date the institution discovers that: (i) a loan under Title IV of the Act was made to or on behalf of a student who was enrolled or accepted for enrollment at the institution and the student has ceased to be enrolled on at least a half-time basis or failed to enroll on at least a half-time basis for the period for which the loan was intended; or (ii) a student who is enrolled at the institution and who received a loan under Title IV of the Act has changed his or her permanent address.
Condition/Context: The change in student status for 1 of 25 students tested was not reported to the National Student Loan Data System (NSLDS) timely when the student withdrew at the end of the spring term.
The sample was not a statistically valid sample.
Questioned Costs: Not applicable.
Cause: The Registrar's data collection was not reviewed after submission to National Student Clearinghouse (NSC) by another responsible individual to ascertain the accuracy of graduated students being reported. The College received a response from NSC of no errors, therefore the graduated student in question was not reported in a timely manner.
Effect: The accuracy of Title IV student loan records depends heavily on the accuracy of the enrollment information reported by schools. If an Institution does not review, update and verify student enrollment statuses, effective dates of the enrollment status and the anticipated completion dates, then the Title IV student loan records will be inaccurate.
Recommendation: It is recommended that the College review policies and procedures in place to resolve reporting issues with the third-party servicer in a timely manner or implement an alternative reporting method to facilitate compliance with Title IV regulations.
Management’s Response:
Management has reviewed policies and procedures for accurate reporting of enrollment status and changes to be in compliance with federal regulations. The College has designated the Assistant Director of Academic Data and Records to run a query on the last business day of the month and verify that any students that have exited the institution from the prior two submission periods (last two months) still have valid exit dates in the National Student Loan Clearinghouse.