Finding Text
Criteria - An institution must keep their Eligibility and Certification Approval Report (ECAR) current by reporting any changes that result in an individual or owner acquiring the ability to substantially affect the actions of the institution. Such a change must be reported within 10 days of the change. An individual or corporation has the ability to substantially affect the institution’s actions when they are the institution’s general partner, chief executive officer (or other executive officer), chief financial officer, individual designated as the lead program administrator for the Federal Student Aid programs at the school, or a member of the institution’s board of directors.
Condition - The Institute had the following changes that have not been updated in the Officials section on their ECAR:
• A Board Member was no longer serving the institution as of May 2021.
• A Board Member was added to the Board in March 2024.
• A Board Member was no longer serving the institution as of May 2024.
• A Financial Aid Officer was no longer active at the institution as of September 2023.
• A new Financial Aid Officer was active at the institution as of September 2023.
Context - Three of the seven officials listed on the Institute’s ECAR were not active and two officials were not listed.
Effect - The Institute is not in compliance with reporting change submissions for their ECAR which could cause the Institute to become ineligible or incur penalties for failing to update information timely.
Cause - The Institute’s new Financial Aid Officer was not aware of the need to update ECAR.
Recommendation - We recommend any changes to the Institute’s general partner, chief executive officer (or other executive officer), chief financial officer, individual designated as the lead program administrator for the FSA programs at the school, or a member of the school’s board of directors be reported by the Institution within 10 days of the change.
Response - Morrison Institute of Technology understands the finding and the importance of timely ECAR updates. The ECAR will be updated as required in the future.
Conclusion - Response accepted