Finding Text
Return of Title IV (R2T4) Calculations Significant Deficiency DEPARTMENT OF EDUCATION ALN #: 84.268 Federal Direct Student Loans Federal Award Identification #: 2021-22 Financial Aid Year Condition: When students withdrew unofficially, the Seminary did not always return unearned Title IV aid. Criteria: 34 CFR 668.22 Questioned Costs: $1,207 Context: Out of 7 students tested for withdrawals, 1 unofficial withdrawal did not have a return calculation initially performed. This student is in the process of being corrected. Cause: This was due to the Seminary evaluating the last date of attendance based on the first absence instead of the last active date of participation. This student's last date of participation was just before the 60% mark of the semester. Effect: A return of loans was not initially completed for one student. Identification as repeat finding, if applicable: Not applicable. Recommendation: We recommend the Seminary run a 0-credit report be run at the end of each semester to ensure all unofficial withdrawals are followed up on so that R2T4's are completed timely when required. Views of Responsible Officials and Planned Corrective Action: Management agrees with the finding. See corrective action plan.