Finding Text
Federal Program: Student Financial Assistance Cluster, Federal Direct Loan Program Federal Agency: U.S. Department of Education Pass-Through Entity: Not applicable Assistance Listing Number: 84.268 Federal Award Year: June 30, 2022 Criteria: Title IV regulations stipulate institutions are responsible for timely reporting. Under the Federal Direct Loan programs, institutions must complete and return within 15 days the enrollment reporting roster file placed in the Student Aid Internet Gateway (SAIG) (OMB No. 1845-0002) mailboxes sent by the Department of Education via the National Student Loan Data System (NSLDS). Condition: One roster file out of three tested were not completed and returned within the 15-day requirement to the NSLDS. This sample was not statistically valid. Cause: The Organization's procedures for complying with this requirement were not designed appropriately to allow for timely return of the file. Effect: The accuracy of Title IV student loan records depends heavily on the accuracy of the enrollment information reported by schools. 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. Questioned Costs: There were no questioned costs associated with this finding. Context: The key position of financial aid director was vacant for part of the testing period. This position is responsible for reporting of the roster files. As of the time of our testing, this position has been filled. Recommendation: The Organization should revise its procedures to ensure timely completion and return of the enrollment reporting roster files. Views of Responsible Official(s): Management agrees with this finding and has recognized their need for a qualified individual who is knowledgeable about financial aid requirements. They have hired a new Director of Financial Aid and Student Housing.