Finding Text
Finding ? Eligibility: Cost of Attendance ? Student Financial Assistance Cluster, Listing #84.063; June 30, 2022 Award year; U.S. Department of Education Criteria or Specific Requirement Eligible students are entitled to receive Pell grants at the rates determined at the beginning of each academic year by the Department of Education. Condition Found Out of forty students selected for testing, nine students were under awarded Pell grants based on their EFC and COA. Pell grants were issued using the rates for the prior academic year. This is not a statistically valid sample. Questioned Costs Known questioned costs $1,312; likely questioned costs of approximately $40,000. Management has estimated based on their own further analysis that the effects of this were under $25,000. Cause The University?s internal systems were not updated for the new Pell award amounts for the 2021-2022 academic year. Identification as a Repeat Finding Not a repeat finding. Recommendation Management should update Pell amounts annually and put controls in place to ensure this update happens annually as required. Management should also perform a full review of prior year Pell awards and provide institutional grants for any students who did not receive their full Pell award. Views of Responsible Officials and Corrective Actions See Corrective Action Plan.