To: PKF O’Connor Davies LLP, U.S. Department of Education
From: Princeton Theological Seminary
Jean Hall, Vice President for Finance & CEO
Date: March XX, 2025
Subject: Princeton Theological Seminary - Corrective Action Plan for the Year Ending June 30, 2024
2024-001 Special Tests and Provisions – Enrollment Reporting
Federal Assistance Listing Number: 84.268, 84.038, and 84.033
Name of Program or Cluster: Student Financial Aid Cluster
Agency: U.S. Department of Education
Criteria: Princeton Theological Seminary (the “Seminary”) is required to update students’ statuses on the National Student Loans Data System (“NSLDS”) website if they graduate, withdraw or have an increase/decrease in attendance level during the year within 60 days of the date the Seminary becomes aware of the change in enrollment status.
Condition: The Seminary did not submit an accurate status change notification to the NSLDS website for two out of eleven students sampled from a total population of 110 students who graduated, withdrew or had an increase/decrease in attendance level during the year.
Cause: Management oversight.
Effect: Noncompliance with OMB federal grant compliance requirements.
Questioned Costs: None.
Repeat Finding: Yes.
Recommendation: The Seminary should properly follow its policies and procedures over enrollment reporting to ensure that all status changes are submitted to the NSLDS website accurately and within the required timeframe.
Views of Responsible Officials: Princeton Theological Seminary’s management acknowledges these two errors and agrees with the requirement to update students’ enrollment status changes as they occur and in a timely manner. The Seminary’s policy mandates reporting every thirty (30) days, and in these two occurrences, that did not happen. We will review all current student files to ensure compliance.
Our Corrective Action Plan to prevent further errors includes implementing a monitoring and verification process of the reporting through the National Student Clearinghouse to the National Student Loan Data System (NSLDS). Further, our Registrar’s office will be required to promptly review and resolve any discrepancies noted in the NSLDS or National Student Clearinghouse error reporting.