As part of the assignment of Perkins Loans, we noted that the assignment process required the submission of original promissory notes for each loan to be assigned. As a result, the University began collecting and digitizing its historic loan records to maintain copies for retention and compliance purposes. The assignment process is currently underway and is required to be completed by June 30, 2023. The University is on track to meet that federal imposed deadline. Quinnipiac University agrees with the finding. A small percentage of the remaining loans to be assigned originated over 10 years ago. As it relates to this finding, we were unable to locate promissory notes for six students with loans originated 10 to 30 years ago. Due to their age, we believe the finding may be related to office moves and departmental reorganizations over the years. As a result of this finding and the federal assignment process in general, Management and Financial Aid have performed a comprehensive review of the remaining student records waiting to be assigned for completeness. As a result of this review Management and Financial Aid have identified all loans that are missing original promissory notes. As part of the assignment process, in lieu of original promissory notes alternative documents supporting the existence of these loans have been provided to the Perkins loan assignment processor. Any loans that are not accepted during this appeals process will be purchased by the University at the conclusion of the assignment process, which is planned to be completed by June 30, 2023. If the Office of Management and Budget have questions regarding this plan, please reach out to Stephen Allegretto, the Associate Vice President for Finance and Controller, who is responsible for ensuring this corrective action plan is implemented, at 203-582-7962.