Finding Text
U.S. Department of Education
Student Financial Assistance Cluster
Assistance Listing No. 84.268 - Federal Direct Student Loans
Assistance Listing No. 84.063 - Federal Pell Grant Program
Assistance Listing No. 84.007 - Federal Supplemental Educational Opportunity Grants
Assistance Listing No. 84.033 - Federal Work-Study Program
Assistance Listing No. 84.038 - Federal Perkins Loan Program
Assistance Listing No. 84.379 - Teacher Education Assistance for College and Higher
Education Grants
Program Year 2024
Criteria or Specific Requirement – Special Tests and Provisions - Return of
Title IV Funds (34 CFR section 668.22) - When a recipient of Title IV grant or loan
assistance withdraws from an institution during a payment period or period of enrollment in
which the recipient began attendance, the institution must determine the amount of Title IV
aid earned by the student as of the student’s withdrawal date. If the total amount of Title
IV assistance earned by the student is less than the amount that was disbursed to the
student or on his or her behalf as of the date of the institution’s determination that the
student withdrew, the difference must be returned to the Title IV programs within 45 days
and no additional disbursements may be made to the student for the payment period or
period of enrollment.
Condition – The University did not initially calculate the return of Title IV funds in accordance
with federal regulations. Upon further internal review, the calculations were corrected, but
not within the 45 day requirement.
Questioned Costs – None
Context – Out of a population of 53 students who received federal aid and withdrew during
the year ended June 30, 2024, we selected a sample of six students that received federal aid.
We noted the return of Title IV funds was not made within 45 days of the students
withdrawal for students who withdrew during the Spring semester, which was not in
accordance with federal regulations. The sample was not, and was not intended to be, a
statistically valid sample.
Effect – Refunds were not remitted timely for students who withdrew during the year.
(continued) Cause – Inaccurate information was included in the Federal Student Financial Aid
refund calculations. The number of days in a semester should be decreased by any
breaks that last five consecutive days or longer. Breaks of at least five consecutive days
for Thanksgiving and Spring Break were not considered. This error was identified internally
by the University during the year and corrected, but it was identified outside the 45 day
requirement.
Identification as a Repeat Finding – N/A
Recommendation – The University should take appropriate action to ensure information
used to support student refund calculations is accurate and ensure proper oversight is
performed timely.
Views of Responsible Officials and Planned Corrective Actions – Management concurs
with the findings and recommendations. See separate report for planned corrective actions.