Finding 577801 (2022-002)

Material Weakness
Requirement
E
Questioned Costs
-
Year
2022
Accepted
2023-11-07
Audit: 2545
Organization: Goddard College Corporation (VT)

AI Summary

  • Core Issue: The College did not report changes in student enrollment status for 15 out of 17 students within the required 30-day timeframe.
  • Impacted Requirements: This failure violates Title IV regulations, which mandate timely updates to the National Student Loan Data System (NSLDS).
  • Recommended Follow-Up: The College should revise its enrollment reporting policy to ensure accurate and timely updates to NSLDS.

Finding Text

2022-002 Enrollment Reporting Criteria: Title IV regulations (34 CFR 685.309(b)) require that upon receipt of an enrollment report from the Secretary, institutions must update all information included in the report and return the report to the Secretary: (i) in the manner and format prescribed by the Secretary; and (ii) within the timeframe prescribed by the Secretary. Unless it expects to submit its next updated enrollment report to the Secretary within the next 60 days, an institution must notify the Secretary within 30 days after the date the institution discovers that: (i) a loan under Title IV of the Act was made to or on behalf of a student who was enrolled or accepted for enrollment at the institution, and the student has ceased to be enrolled on at least a half-time basis or failed to enroll on at least a half-time basis for the period for which the loan was intended; or (ii) a student who is enrolled at the institution and who received a loan under Title IV of the Act has changed his or her permanent address. Condition: The change in student status for 15 of 17 students tested was not reported to the National Student Loan Data System (NSLDS) within 30 days or included in a response to a roster file within 60 days. A statistical sample was not used. Cause: The College failed to follow its procedures for reporting student status changes. Effect: The accuracy of Title IV student loan records depends heavily on the accuracy of the enrollment information reported by institutions. If an institution does not review, update, and verify student enrollment statuses, effective dates of the enrollment status, and the anticipated completion dates, then the Title IV student loan records will be inaccurate in NSLDS. Questioned Costs: None Recommendation: The College should review its policy on enrollment reporting to NSLDS to ensure that all enrollment status changes are updated accurately and reported within the required timeframe. View of Responsible Officials and Planned Corrective Actions: See accompanying Corrective Action Plan as prepared by management.

Categories

Student Financial Aid Matching / Level of Effort / Earmarking Reporting

Other Findings in this Audit

  • 1352 2022-001
    Material Weakness
  • 1353 2022-001
    Material Weakness
  • 1354 2022-001
    Material Weakness
  • 1355 2022-001
    Material Weakness
  • 1356 2022-001
    Material Weakness
  • 1357 2022-001
    Material Weakness
  • 1358 2022-002
    Material Weakness
  • 1359 2022-002
    Material Weakness
  • 1360 2022-002
    Material Weakness
  • 1361 2022-002
    Material Weakness
  • 1362 2022-002
    Material Weakness
  • 1363 2022-002
    Material Weakness
  • 577794 2022-001
    Material Weakness
  • 577795 2022-001
    Material Weakness
  • 577796 2022-001
    Material Weakness
  • 577797 2022-001
    Material Weakness
  • 577798 2022-001
    Material Weakness
  • 577799 2022-001
    Material Weakness
  • 577800 2022-002
    Material Weakness
  • 577802 2022-002
    Material Weakness
  • 577803 2022-002
    Material Weakness
  • 577804 2022-002
    Material Weakness
  • 577805 2022-002
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $5.00M
84.425F Covid-19 Education Stabilization Fund $529,823
84.425E Covid-19 Education Stabilization Fund $439,997
84.063 Federal Pell Grant Program $390,448
84.038 Federal Perkins Loan Program $217,558
84.007 Federal Supplemental Educational Opportunity Grants $61,854