Finding Text
Return of Title IV (R2T4) Calculations DEPARTMENT OF EDUCATION
ALN #: 84.268, 84.063, 84.007 and 84.379
Federal Award Identification #: 2023-2024 Award Year
Condition: There were two incorrect calculations of returned funds for students that withdrew during the term.
Criteria: 34 CFR 668.22
Questioned Costs: $56
Context: Out of 37 students, 2 withdrawal students tested had a R2T4 calculation error.
Cause: One student had registered for multiple quads, and then withdrew before one of those quads began. The calculation inaccurately included all registered days, resulting in an overreturn of $366 of loans. Additionally, one student’s calendar was incorrect by two days, resulting in an underreturn of $56 of loans.
Effect: There were incorrect amounts of federal loan funds returned.
Identification as repeat finding, if applicable: Yes, 2023-001 and 2022-001
Recommendation: We recommend the University designate one individual with appropriate experience to review R2T4 calculations and returns made to help ensure that internal controls are operating effectively to achieve compliance.
Views of Responsible Officials and Planned Corrective Action: Management agrees with the finding. See corrective action plan.