Need Analysis
Planned Corrective Action:
To ensure compliance with Needs Analysis regulations for the limitations of keeping aid within the Cost of Attendance (COA) both during R2T4 calculations and in overall packaging, Point Loma will use system-specific configuration our new Workday Student Financial Aid software:
• Disbursement Eligibility criteria that flags “Exceeds COA”, preventing disbursement
• Automatic calculations of the COA based on the number of weeks in which the student is enrolled. (Our previous software required all manual review and adjustments to COA when a student was only enrolled in a single module.) Any changes to the number of weeks or to enrollment as a whole, will result in a Need Packaging Reaction, prompting staff to re-run Cost of Attendance calculations and Need Packaging as needed.
Furthermore, Point Loma will review and revise procedures for mandatory recalculations of COA, and train staff on these procedures.
Person Responsible for Corrective Action Plan:
Daniel Reed, Director of Financial Aid Jamie Asche, Director of SFS Business Analysis and Compliance Joanna Castro, Associate Director of Financial Aid, GPS
Anticipated Date of Completion: December 31,2024