Finding Text
Improper Return of Title IV Financial Aid - Student Financial Aid Cluster
Assistance Listing #s 84.007, 84.033, 84.038, 84.063, 84.268, 84.379, 93.264 -
Grant Period - Year Ended June 30, 2023
Criteria: According to 34 CFR 668.22 when a recipient of Title IV grant or loan
assistance withdraws from a University during a payment period or period of
enrollment in which the recipient began attendance, the University must determine
the amount of Title IV grant or loan assistance that the student earned as of the
student's withdrawal date. Condition: During our Return of Title IV Fund testing, we noted that the University
did not calculate properly or return Title IV Student Financial Aid in the required
time frame for two out of twenty-five students we tested. We consider the untimely
returns and incorrect calculations of the Return of Title IV to be an instance of
noncompliance to the Special Tests and Provisions Compliance Requirement. This is
also a repeat finding reported in Section IV Prior Year Financial Statement and
Federal Award findings as 2022-001.
Statistical sampling was not used when making sample selections.
Questioned Costs: $2,716 Effect: The University did not calculate properly the amount of Title IV funds to be
returned or return unearned Title IV Funds to the U.S. Department of Education
within the required time frame for two out of the twenty-five students tested.
Cause: The University s internal controls did not detect errors in the amount of Title
IV Funds to be returned nor did they ensure that Title IV funds were returned in the
required time frame.
Recommendation: We recommend the University implement controls to verify the
dates of attendance and resulting R2T4 calculation to ensure the accurate calculation
and return of unearned aid.
Views of Responsible Officials: Management agrees with this finding and response is
included in Corrective Action Plan.