Finding 514650 (2024-002)

2024-002: Missing Exit Counseling Documentation - Student Financial Aid Cluster - Assistance Listing #s 84.007, 84.033, 84.063, 84.268 - Grant Period - Year Ended June 30, 2024 Criteria: According to 34 CFR section 685.304, an educational institution must ensure that exit counseling is conducted with each Direct Loan student borrower 30 days after the student withdraws from the institution or falls below half-time status. Condition: During our student file testing, we noted two students out of 40 did not have documentation in their file that exit counseling was sent thirty days after the student withdrew. We consider the missing exit counseling to be an instance of noncompliance with the Eligibility Compliance Requirement. Statistical sampling was not performed in the selection of the sample. Questioned Costs: $0 Effect: The College did not send out exit counseling when the student withdrew timely. Cause: The College’s internal controls did not detect the missing exit counseling for the students. Recommendation: We recommend the institution closely monitor all students who are receiving loans to make sure they are sent exit counseling timely. Views of Responsible Officials: The College agrees with the Single Audit finding and a response is included in the Corrective Action Plan