Finding 598250 (2022-003)

Significant Deficiency
Requirement
N
Questioned Costs
-
Year
2022
Accepted
2022-11-21
Audit: 20218
Organization: Beloit College (WI)
Auditor: Rsm US LLP

AI Summary

  • Core Issue: Three students' withdrawal dates were not reported correctly, violating federal regulations.
  • Impacted Requirements: Compliance with 34 CFR 682.605(c) is essential for accurate enrollment reporting to avoid financial aid issues.
  • Recommended Follow-Up: Implement training for staff on reporting requirements and establish a review process for compliance.

Finding Text

Finding 2022-003: Special Tests and Provisions ? Enrollment Reporting: Campus-Level Criteria: Per 34 CFR 682.605(c), an Institution is required to notify the lender and the Secretary of a student?s withdrawal date including the month, day, and year of the withdrawal date. Condition: Three students? enrollment change dates were not properly reported. Cause: Beloit College uses the National Student Clearinghouse?s enrollment roster to report enrollment information which is then shared with the National Student Loan Database System (NSLDS). Effective January 2022, a new Registrar was put in place. Registrar was unaware of the proper date to be reported as the effective date for withdrawals. Effect: Noncompliance with federal regulations could result in the loss of future federal financial aid funding. In addition, not reporting enrollment status changes properly can impact an individual student?s loan deferment and repayment schedule. Questioned Costs: None Context: Three out of 16 students tested from a population of 121 students with enrollment status changes were not reported with the accurate date of status change. Repeat finding: No Recommendation: We recommend that management consider implementing training to outline the reporting requirements to staff members involved in the enrollment reporting process and develop a review process to ensure compliance with the reporting requirement. Views of Responsible Official: Management agrees with this finding. Please see corrective action plan attached.

Categories

Special Tests & Provisions Student Financial Aid Reporting Matching / Level of Effort / Earmarking

Other Findings in this Audit

  • 21801 2022-002
    Significant Deficiency Repeat
  • 21802 2022-003
    Significant Deficiency
  • 21803 2022-004
    Significant Deficiency
  • 21804 2022-002
    Significant Deficiency Repeat
  • 21805 2022-003
    Significant Deficiency
  • 21806 2022-004
    Significant Deficiency
  • 21807 2022-002
    Significant Deficiency Repeat
  • 21808 2022-003
    Significant Deficiency
  • 21809 2022-004
    Significant Deficiency
  • 21810 2022-002
    Significant Deficiency Repeat
  • 21811 2022-003
    Significant Deficiency
  • 21812 2022-004
    Significant Deficiency
  • 598243 2022-002
    Significant Deficiency Repeat
  • 598244 2022-003
    Significant Deficiency
  • 598245 2022-004
    Significant Deficiency
  • 598246 2022-002
    Significant Deficiency Repeat
  • 598247 2022-003
    Significant Deficiency
  • 598248 2022-004
    Significant Deficiency
  • 598249 2022-002
    Significant Deficiency Repeat
  • 598251 2022-004
    Significant Deficiency
  • 598252 2022-002
    Significant Deficiency Repeat
  • 598253 2022-003
    Significant Deficiency
  • 598254 2022-004
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $3.91M
84.063 Federal Pell Grant Program $1.48M
84.425 Education Stabilization Fund $1.36M
84.038 Federal Perkins Loan Program - Loans Outstanding at the Beginning of the Year $1.08M
84.047 Trio_upward Bound $437,973
84.042 Trio_student Support Services $367,881
84.217 Trio_mcnair Post-Baccalaureate Achievement $323,839
84.033 Federal Work-Study Program $208,237
84.007 Federal Supplemental Educational Opportunity Grants $175,810
15.922 Native American Graves Protection and Repatriation Act $76,813
10.500 Cooperative Extension Service $12,791
47.076 Education and Human Resources $7,508
45.301 Museums for America $265
47.050 Geosciences $168