Finding Text
Need Analysis DEPARTMENT OF EDUCATION
ALN #: 84.268
Federal Award Identification #: 2023-2024 Award Year
Condition: Students were not appropriately awarded loans based on need.
Criteria: 34 CFR 685.200(a), 34 CFR 685.203
Questioned Costs: $1,237
Context: Out of 60 students tested, 2 students were not awarded aid appropriately based on need analysis. One student who graduated in the Spring term had their loans incorrectly prorated for completing 21 total credit hours out of 24 credit hours for full-time determination; this caused the student to be under awarded $1,563 in FDL. One student was awarded $1,237 in subsidized loans over need. These were not corrected during the audit.
Cause: There was transition in the financial aid office in the middle of the 2023-2024 award year.
Effect: Students not awarded need based federal aid according to eligibility.
Identification as repeat finding, if applicable: Not applicable.
Recommendation: We recommend that the University set up reports in the student information system to periodically check for over or under awarding of need based federal aid.
Views of Responsible Officials and Planned Corrective Action: Management agrees with the finding. See corrective action plan.