Core Issue: College of the Ozarks failed to correct error enrollment files in the NSLDS within the required ten-day period.
Impacted Requirements: Compliance with U.S. Department of Education reporting guidelines is essential for accurate Federal Student Aid program participation.
Recommended Follow-Up: Implement regular review and monitoring procedures for all reporting requirements to ensure timely updates to the NSLDS.
Finding Text
Criteria: Schools participating in Federal Student Aid programs are required to follow reporting guidelines across all U.S Department of Education?s databases. Condition: It was noted that College of the Ozarks had not corrected all error enrollment files to the National Student Loan Data System (NSLDS) within the required ten-day timeframe. Cause: Review and monitoring procedures over the NSLDS system were not regularly occurring. Potential Effect: Information shared with the NSLDS must be updated regularly and timely to ensure all Federal Direct Loans participants are properly registered. Federal Direct Loans participants are properly registered. Recommendations: During the audit it was recommended to implement periodic review and monitoring procedures over all U.S. Department of Education database reporting requirements. View of Responsible Officials: Management concurred with the finding and has implemented procedures to review the information shared between College of the Ozarks and the NSLDS.
Corrective Action Plan
View of Responsible Officials: Management concurred with the finding and has implemented procedures to review the information shared between College of the Ozarks and the NSLDS.
Categories
Student Financial AidMatching / Level of Effort / EarmarkingSubrecipient MonitoringReporting